Micro investing is a new feature in Yandex.Money
Yandex brings their own Yandex.Money service for a new stage of development. Now you can use the application to invest in exchange-traded funds.
Micro investing will be possible thanks to the cooperation of Yandex with the investment company
A couple of days ago we wrote that Google in India will grant micro loans through its application. The function was possible not least by the Corporation’s partnership with local large banks.
Similar way was chosen by Yandex. Together with FinEx, it founded a micro investing service called Yammi.
Examples of the most popular online services for investment are taken as a basis of Yammi work. With the help of the platform, deposits are available exclusively in verified shares of Exchange Traded Funds (ETF). Here Yandex benefited from the experience of a partner FinEx, which is a provider of various ETF represented on Moscow exchange.
Due to the success of FinEX in robo-advising and technologies Yandex.Money Yammi service focuses not on short-term profits, but on long-term benefits. In the event that the shares fall in price, Yammi algorithm will reduce the risk of losses.
Working conditions with micro investing
First you need to have Yandex login, log in Yammi and pass a small test. It is made to understand the user’s instinct for a risk. This is important because Yammi will set up an investment profile based on the test results. If it is found that a person likes to take risks, his money will be invested in the relevant assets.
After you need to specify the initial amount of investment, terms of work and how the portfolio will be replenished once a month. The minimum amount to start in Yammi is 5 000 rubles, term – one year. However, the portfolio can always be turned off, and the money taken.
The penultimate stage is filling in the questionnaire by the user and signing of the agreement. This is done with a one-time code.
The final action before start is transfer of funds to the application from a bank account or e-wallet.
Yammi micro investing service fee
Using Yandex and FinEx platform will cost 1.5% of the portfolio cost per year. Daily fee – not less than 3.25 rubles. The money will be withdrawn quarterly.
In this case, fee for the withdrawal of funds to the e-wallet is not provided. However, when sending money to a bank account, it is 3.5%.