Saxo Bank Introduces New Funds Offering in the UK

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Saxo Bank, a leading Copenhagen-based Retail FX and CFDs broker, has announced the launch of a new funds offering in the UK, marking a significant expansion in its financial services.

The innovative offering allows retail investors unprecedented access to a wide range of investment instruments. This includes short-term options such as funds, with Saxo Bank curating an extensive list of over 6,000 global funds from renowned fund managers like Baillie Gifford, BlackRock, Fidelity, Fundsmith, J.P Morgan, and Vanguard.

The array of investment choices is comprehensive, offering more than 500 equity funds, 2,000 fixed income funds, 730 multi-asset, and 160 alternative funds. These cover various sectors including biotech, consumer staples, real estate, energy, gold, mining, healthcare, industrial, natural resources, technology, telecommunications, and utilities.

Saxo Bank has made this offering highly competitive by eliminating commission fees and platform fees. Furthermore, they offer remarkably low annual custody charges, which vary based on account types - 0.4% p.a. for classic accounts, 0.2% p.a. for platinum accounts, and a mere 0.1% for VIP accounts.

This initiative by Saxo Bank is not just about diversifying investment options but also about consolidating client portfolios. The platform allows clients to integrate their entire investment portfolio, including Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making Saxo’s platform a comprehensive hub for investment and trading needs.

Charlie White-Thomson, CEO of Saxo Markets UK, expressed his enthusiasm for the launch, especially in the current context of market volatility and geopolitical tensions. He emphasized the importance of active management and mutual funds in diversifying portfolios, especially in a market paradigm shifting away from heavy stimulus and rock-bottom interest rates. White-Thomson believes that tapping into the expertise of top asset managers through funds is crucial for enhancing performance and navigating the complex financial markets of today.

Saxo Bank's new funds offering is poised to be a game-changer in the UK financial market, offering both depth and breadth in investment opportunities for retail investors.

UK Passes a Bill Recognising Crypto Trading as a Regulated Activity

The United Kingdom Parliament has taken a significant step towards becoming a crypto hub by adopting a new law that regulates digital assets and oversees crypto advertisements. The decision aims to position the country at the forefront of the rapidly evolving crypto industry.

UK Passes a Bill Recognising Crypto Trading as a Regulated Activity

The bill, known as the Financial Services and Markets Act 2023, has received Royal Assent from King Charles III on June 29, according to a press release issued by the government. The Act, which enables the regulation of crypto assets and stablecoins, has been hailed as a "Rocket Boost" to the UK economy, which has faced substantial challenges due to the COVID-19 pandemic and Brexit.

  • With the enactment of the Act, regulators such as the Financial Conduct Authority (FCA), the Bank of England, and the Payments Systems Regulator are now granted the authority to supervise and control financial activities involving digital assets and stablecoins. This move allows these regulatory bodies to implement new rules and safeguards in the digital sector to ensure their safe adoption in the UK.
  • The adoption of the Financial Services and Markets Act 2023 reflects the UK government's commitment to fostering innovation and creating a favorable environment for crypto-related businesses. By introducing comprehensive regulations, the government aims to strike a balance between protecting investors and consumers and supporting the growth of the crypto industry.
  • One of the key aspects covered by the new law is the supervision of crypto advertisements. Recognizing the increasing prevalence of crypto-related ads, the Act empowers regulators to monitor and regulate the content and dissemination of these advertisements. This measure aims to prevent misleading or deceptive promotions and to protect individuals from potential scams or fraudulent activities.
  • Moreover, the Act aims to provide clarity and legal certainty for businesses operating in the crypto space. By establishing a clear regulatory framework, the UK government seeks to attract crypto companies and talent, encouraging innovation and investment in the sector. (Learn more about UK financial Firms)

The decision to regulate digital assets and crypto ads aligns with the UK's broader strategy to leverage emerging technologies and maintain its position as a leading financial center. The government recognizes the transformative potential of blockchain technology and cryptocurrencies and aims to harness their benefits while mitigating associated risks.

As the crypto landscape continues to evolve, the UK's proactive approach to regulation positions it as a key player in the global digital economy. The new law sets the stage for a thriving and responsible crypto ecosystem, ensuring that the UK remains at the forefront of this groundbreaking industry.