Users are given the option to remove specific companies from their portfolios.
Bond-investment platform WiseAlpha has launched a new robo-advice service called Robowise. The platform plans to stand out in the robo-manager market with its more personalised selection criteria for customers.
Robowise asks its users whether they want a balanced or an adventurous portfolio, and an algorithm will then construct and weight their portfolios accordingly.
The platform enables the experience to be even more personalised by giving the user the option to eliminate specific companies or sectors from the portfolio. It is targeting retail investors with an intermediate level of knowledge on the market.
Robowise regularly manages its diversified portfolios, buying and selling bonds. When the opportunity for arbitrage arises, the platform sells the bonds and the cash earned - belonging to the customer - can either be withdrawn or reinvested.
Rezaah Ahmad, CEO at WiseAlpha, said: “This is a very important milestone. First, we opened up this wonderful asset class, with its broad spectrum of returns, to the everyday investor. Now we’re empowering them to pre-select and put their portfolios on autopilot, with advanced tools previously only available to sophisticated institutions and global banks.”
The selling and buying of bonds performed by the platform will incur no fees for the user. The charges the customer is subjected to are a 1 per cent annual fee and a 0.25 per cent sale fee when they want to cash out their portfolio.