Santander Private Banking has this week begun to offer its clients a discretionary portfolio management service through the allocation of assets in index funds, that is, passive management, as reported in a statement.

The service, called Santander Innova Index, will offer the client five investment profiles with different levels of risk (conservative, moderate, balanced, dynamic and aggressive).

Santander has indicated that there was a “growing interest” among clients in passive management, as it is cheaper. This offer combines that without giving up the delegation of investments.

As in the rest of the entity’s private banking discretionary management portfolios, management will be carried out by Santander Private Banking GestiĆ³n, the group’s manager specialized in private banking. This manager “will allow you to have portfolios with the most appropriate indices at all times according to the evolution of the markets, and without giving up correct diversification and risk control.”

With this addition, Santander’s private banking client will be able to choose between classic management portfolios in which value is generated both through asset allocation and fund selection (Innova), portfolios with asset allocation as the only source of profitability (Innova Index), portfolios that allow customization based on the client’s investment preferences (Unique Portfolios) and portfolios completely tailored to their needs (Investment Portfolios).