Marvin OnumonuMoneybox has partnered with Amundi to launch three new low-cost investment funds for pension customers.
The move aims to offer Moneybox customers a simple and cost-effective way to invest for retirement.
The funds offer three levels of risk and potential return.
The IFSL Moneybox Cautious Fund is aimed at people close to retirement who want lower risk.
The IFSL Moneybox Balanced Fund is for those getting nearer to retirement and looking for a balance of growth and stability.
The IFSL Moneybox Adventurous Fund is for those further from retirement age who are comfortable with higher risk.
Customers under 50 will be placed in the Adventurous Fund by default, while those aged 50 and over will be defaulted to the Balanced Fund.
All three funds are actively managed and invest across equities, bonds and commodities.
The ongoing charge figure for the funds is capped at 0.29% per year, with Moneybox charging a 0.15% service fee capped at £150 per year.
The funds are designed to give customers a straightforward, hands-off experience, with no need for manual rebalancing.
Charlie Mortimer, co-founder at Moneybox, said: “Our mission is to give everyone the means to get more out of life – whether they’re saving and investing, buying their first home, or planning for retirement.
“The launch of the Moneybox funds marks a major milestone in our ambition to become a lifelong wealth partner to millions across the UK.”
“Since 2019, when we became the first investment platform to offer a pension via an app, we have been building the foundations for scalable and innovative retirement solutions.”
Mortimer added: “These new funds demonstrate how we can bring world-class investment expertise to our customers in a simple, affordable, and effective way.”
Eric Bramoullé, CEO of Amundi UK, said: “At Amundi we work to give more people access to high quality investments to help them secure their financial future.
“We are proud to partner with Moneybox to bring Amundi’s leadership in multi-asset and ETF capabilities to UK retirement savers, drawing on the extensive expertise of our investment team in designing tailor-made solutions.
“Together we can make saving simpler, more accessible and more cost efficient for Moneybox’s customers.”
Bramoullé added: “This strategic collaboration underscores Amundi’s long-term commitment to the UK market and digital wealth as well as the critical importance we place on delivering better retirement outcomes.”
