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New version of the digital investment solution June launched

After about a year and a half on the market, we adjust the ‘investment engine’ on Danske Bank's digital investment solution, June. The result is cheaper prices and the opportunity to invest in screened funds. However, the mission does not change; to make the Danes invest more.

We have made changes in the engine in June. From December 2018 we have reduced the prices which means that they now cannot exceed 0.25 percent compared to previously 0.35 percent. Meanwhile, we have changed the ongoing costs at a fixed cost of 0.69 percent. In addition, customers can now repeatedly change their June-fund while investments will follow the principles of sustainable investment.

This means that June will not invest in companies if they, for example, are involved in sanctioned weapons such as land mines, cluster bombs, chemical, biological and nuclear weapons or if they earn the majority of their money on coal. In addition, the screening includes whether companies have proper working conditions and responsible management.

Despite the changes, June is still investing in underlying funds, which follows an extensive index of equities and bonds across almost all sectors and regions. This ensures that the funds comply with the principle of ensuring high spread of risk. June also continues to partner up with experts who on a regular basis monitor and maintain the investments in June in terms of return and risk. 

Eliminating investment barriers 
June was launched in Denmark in May 2017 in an effort to eliminate the hurdles that have made it difficult for many Danes to start investing.

In a situation of low interest rates, where we live and are healthy longer, it may be more relevant than ever to invest your money. For the majority of our customers, investment is about that: they save up to afford to live the life they want to live when they leave the labor market or to take a year out of the calendar to travel with the family. The important thing is to start investing and save up early to get the money working. Even smaller investments can make a big difference over time.

Jakob Beck Thomsen

Product Manager, June

The general interpretation has been that investment is complex, expensive, risky and for people with great fortunes. Therefore, the aspiration has been to develop a solution that is simple, digital and where everyone can join. Especially having in mind that Danes in average have up to DKK 150,000 on their bank account at a very low interest rate which furthermore are in risk of being less valuable due to inflation. 

In order to show that it is also possible for customers with small savings to get started, it has been possible to invest down to DKK 100,00.

Facts about June

  • 20,000 customers
  • Asset under management is 600 million DKK
  • 50 percent of customers invest for the first time via Danske Bank.
  • About 50 percent of the customers are under 50. In comparison, the average age of an investor in Danske Bank is approximately in 65-70 years.

(Based on June statistics from December 2018)