The German robo-adviser said it will launch Novofina 7plus and Novofina 20plus in the UK.
Based on past simulations, the products aim to offer average annual net returns of 7% and 20% respectively.
According to the company, the two model portfolios, based on a concept called Neue Finanzen meaning “new finances” in German, have achieved back-tested yearly net returns – over a 10-year period – of 7.34% and 20.07%.
Both portfolios have no management fees, no subscription fees and no performance fees and there is a minimum deposit recommendation of £30,000 ($36,799, €35,277).
It has said all commissions are already priced into expected returns and its execution fee is $0.015 (£0.012) a share.
Novofina said it uses “unique, state-of-the-art algorithms, of a quality previously only available to the super-rich with access to private banks” and currently trades the equivalent of several million pounds every day “flawlessly, precisely and fully-automated”.
“People are fed up with the banks, after bailing them out in the financial crisis, and fed up that their savings are barely earning them anything,” said the company’s founder, Harald Helnwein.
“They don’t like the old financial systems, with advisers tending to be more interested in their own commission than their clients’ interests.
“It’s a fair and open solution in which the customer stays in control of their own money, with access to sophisticated algorithms to optimise their position, complete transparency over trading and the freedom to leave at any time.”
