I really like the excitement of the new products in the offing. A Futures Portfolio product will be a really interesting addition with great potential. Something that has simply not been an available or realistic option for many investors previously, so that I think it will further illustrate MF’s mission of rolling back the frontiers of investment management democratically.
The niche for a savings product is a great idea, but will have to be very carefully thought through. There is obviously a considerable gulf between the returns on traditional savings accounts & the potential return on any of MF’s portfolios, so that the incentive for “savers” is very clear.
If an investor paid say £10 per month in to an MF ISA, or High Growth GIA though, are they “saving” or paying funds in to an investment “feeder” account. I don’t think a term such as “savings account” can be readily used for any product that actually has the potential to go down as well as up!
Certainly Monzo with around 3 x million & Revolut with 6-7 million customers, must have significant numbers underwhelmed and deterred by current savings returns & more than just interested in the returns available from the MF Portfolios.
Certainly one to put more thought in to.