Saxo Bank Launches Property Investment Products
on: March 17, 2010, 7:45 am
Author: Saxo Bank
Saxo Bank, the online trading and investment specialist, will
now offer property investment products for both private clients and
institutional investors through a new company, Saxo Properties.
The newly formed investment firm Saxo Properties, fully owned by Saxo Bank, will
launch closed-ended funds for both high net worth clients and institutional
investors. Two of the Danish real estate industry's most well-known individuals,
Jesper Damborg and Claus Klostermann, will respectively become CEO and managing
director of investments at Saxo Properties.
"Initially, Saxo Properties will focus on handpicked Copenhagen residential, office
and retail properties. The first fund will close within the next three months, but
we intend to establish a number of funds with a significant ownership capital of at
least DKK 250 million," said Jesper Damborg.
Saxo Bank's business model is often described as a facilitator model where the bank
through its trading platforms offers liquidity, products and services to clients as
obtained from other financial institutions. Saxo Properties will use the same model.
Saxo Bank has hired Flemming Schandorff, the former COO of ISS, one of the world's
largest commercial providers of facility services, to a similar position at Saxo
Properties to facilitate administration of the estates.
"First and foremost, Saxo Properties will prioritize achieving attractive market
returns, but we will also focus on how to capitalize on tight cost control and good
management, such as rebuilding, mixed lease and general maintenance," said Jesper
Saxo Bank's CEOs and founders, Kim Fournais and Lars Seier Christensen, said in a
joint statement: "Saxo Bank holds asset under management of DKK 40 billion, and our
focus on asset management has proved a great success. Many clients have asked for
property investment products and there is also a clear synergy between Saxo Asset
Management and Saxo Properties, which we can now utilize. Many properties are traded
at a low price especially in Copenhagen, so the timing is right to expand our asset
management to include property investment products."
Last year, Saxo Bank bought Sirius Asset Management, Capital Four and 51 percent of
Global Evolution. The three companies now form Saxo Asset Management, which has
management expertise for Danish bonds, Danish equities, corporate bonds and emerging
About Saxo Bank
Saxo Bank is an online trading and investment specialist, enabling Forex trading for
clients, as well as CFD Trading, Stocks, Futures, Options and other derivatives,
as well as providing portfolio management via SaxoWebTrader and SaxoTrader, the
leading online trading platforms.
SaxoTrader is available directly through Saxo Bank or through one of the Bank's
global partners. White label is a significant business area for Saxo Bank, and
involves customised and branding the Bank's online trading platform for other
financial institutions and brokers. Saxo Bank has more than 100 white label partners
and boasts thousands of clients in over 180 countries. Saxo Bank is headquartered in
Copenhagen with offices in Australia, China, the Czech Republic, France, Greece,
Italy, Japan, the Netherlands, Singapore, Spain, Switzerland, UK, and the United
Head of Group PR
Saxo Bank A/S
Philip Heymans Allé 15
+45 3065 4300