Nectar Digital Wealth AG is expanding its investment portfolio with a new credit product called Nectar Smart Credit. It is designed to offer less affluent investors and pension savers access to a broadly diversified credit portfolio. With a minimum investment of $10,000, it has a return goal of 5 per cent above the dollar Libor rate. The product is expected to be issued on 18 October.
Like the hedge fund product Nectar Smart Alternatives, which was launched in the spring, Nectar Smart Credit is also based on artificial intelligence (AI) and uses algorithms to identify the best managers among Fundbase’s global data set. Algorithms also compile and continuously manage a portfolio of uncorrelated risk-return factors. According to Nectar, the 80 per cent automation degree reduces costs and eliminates distortions.
Nectar aimed for a return target of 8 per cent with its hedge fund product Nectar Smart Alternatives. After six months, the performance now amounts to 3.4 per cent, which is still above average when compared to other hedge fund indices.
Headquartered in Altendorf in the canton of Schwyz, Nectar also has offices in Zurich and Slovakia. The company employs more than 60 people, making it one of the largest Swiss fintech companies.
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