Yandex.Money & FinEx have launched online investment platform Yammi
July 26, 2018
Yammi is a low cost, transparent, tech/digital-focused automated Wealth Management solution and a joint project of Yandex.Money and FinEx Group. This platform is dedicated to providing individuals with an easy start to investing.
Yammi offers a unique online investing experience based on a fully automated process that allows individuals to monitor and adjust portfolios to stay on track with their investment goals, shift between different asset classes based on changing market conditions and individual investment needs such as risk appetite and liquidity requirements. The platform invests using Exchange Traded Funds (ETFs) which track indices covering an array of asset classes and due to their low cost they generally outperform most active mutual funds, leaving more money in Yammi clients’ accounts.
The Yammi investment management process is based on FinEx’s robo-advisory service and a unique analysis of Yandex.Money users’ profiles to produce investment solutions which meet their needs and thus benefit more from their investments over the long-term.
To start investing, a client needs to setup Yammi within their Yandex account and fill out a questionnaire based on in-house state-of-the-art risk mapping methodology. A client provides data needed for their tailored investment plan to be build: investment amounts, horizon, currency and age, and Yammi utilizes an automatically generated account opening pack with a single-use code. Once approved a client can transfer money from their Yandex.Money wallet or bank account to Yammi investment portfolio and Yammi will do all the rest. An investor must top up their account with 5,000 rubles ($79.4) — this is the lowest account minimum for individual asset management service in Russia. The minimum term of investment is 1 year but an investor can partly withdraw, or close portfolios at any time.
«Yammi is a new wave in digital WealthTech services in Russia. Its launch is the result of the collaboration between Yandex.Money, the leading payment provider, and FinEx Group, that is paving the way for modern investment technologies in Russia. Yammi is the gateway to healthy investing for everyone, using a convenient technological platform at minimum cost», says Oleg Yankelev, CEO at FinEx Plus Asset Management LLC, Senior Partner at FinEx Capital Management LLP.
«We are absolutely sure that Yammi will stimulate interest in the retail investment community in Russia and become an indispensable tool and advisor for efficient investing. The advanced technology of Yandex.Money and financial expertise of FinEx provide individuals with a convenient and intuitive access to capital markets and opportunity to learn how to cultivate proper investment habits», says Ivan Glazachev, CEO at Yandex.Money.
Yandex.Money is the largest electronic payments service in Russia, according to a 2017 survey by Mediascope. The service is the joint venture of the search engine Yandex (NASDAQ: YNDX), and Sberbank. Yandex.Money offers consumers easy, safe, and reliable methods of paying online on its own site and mobile app. The service hosts about 35 million user accounts.
Yandex.Money also offers online merchants Yandex.Checkout.
Yandex.Checkout is the leading service for accepting online payments in Russia, according to a 2017 survey by MARC. With this payment solution, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and CIS-citizens: bank cards, e-wallets, mobile phones, and cash via mobile retailers and payment kiosks (there are over 250 thousand cash-acceptance points all over CIS). Currently, more than 90,000 online stores across the globe use Yandex.Checkout. The service received the Emerging Payment Award at the Merchant Payments Ecosystem conference (Berlin) in 2017.
FinEx group is an integrated asset management group that operates globally with clients in Asia, Europe, and Latin America in the business of private equity, asset management, Exchange Traded Funds (ETFs) and hedge funds. Running over US$ 1 bn in AUM, the group has its main offices in London and Moscow. FinEx was established as a response to the significant and continuing changes to the structure of the financial industry. The founding partners are some of the most experienced bankers in the world that have a deep understanding of the financial services industry. FinEx established the first Russian ETF-provider in 2013 and B2B2C Robo Advisory platform with Russian footprint in 2015.
With a 28-year history, the ETF market is a unique phenomenon, growing fast and defying critics. There are 5595 ETFs globally, with $4.8 trillion invested. The industry has grown steadily with a 10 year CAGR of 18.9%. The Russian ETF market emerged in 2013 and reached $190 million in July 2018. FinEx ETFs dominate the Russian ETF market with a 94% share.