We caught up with Spaceship CEO, Andrew Moore, to learn more about the platform and trends they have seen amongst their users.
Q.What makes Spaceship Voyager different from other investment platforms?
A. Spaceship Voyager is relatively new – it launched in Australia in May 2018. It is aimed at younger generations who we know have been wanting to invest, but simply weren’t sure how to go about it or whether you needed a certain amount to get started.
From the beginning, Spaceship Voyager has been accessible through an app, and has had no minimum investment, which makes it easy for Australians to invest. Acknowledging the importance of money matters and improving financial literacy, we also provide Australians with educational blogs and news articles on investing and savings.
To sign up for Spaceship Voyager, you start by simply downloading the app. You’ll pick one of our portfolios, provide and verify your personal details, and of course read all the important documents! Once you’ve completed signing up, you can start investing — you can make a one-off investment or opt for a weekly, fortnightly or monthly investment plan.
Q. What investment options are available?
A. Spaceship has two managed funds (aka portfolios) to choose from: Spaceship Origin Portfolio and Spaceship Universe Portfolio.
Spaceship Origin Portfolio gives customers the opportunity to passively invest in a portfolio of some of the world’s largest companies, including Apple, Johnson & Johnson, Berkshire Hathaway, Alphabet and Amazon. This portfolio has some of the lowest fees in the Australian market; it’s fee-free for balances of $5,000 or less, and then you’ll pay 0.05% per annum on the portion of your balance that is more than $5,000.
Spaceship Universe Portfolio gives customers the opportunity to invest in a portfolio of the world-changing companies that meet Spaceship’s ‘Where the World is Going’ criteria, including Spotify, Microsoft, Square, Apple, and Tesla. It’s also fee-free for balances of $5,000 or less, and then the fee is 0.10% per annum on the portion of your balance that is more than $5,000.
Q. Why are these important?
Young Australians have traditionally been disconnected from investing, whether because of high fees, complicated processes, or jargon-heavy products.
With Spaceship Voyager, we have set out to make investing easy. The app is simple, and the portfolios are low-cost. Australians deserve access to investments that don’t cost the earth.
In little more than two years, more than 85,000 Australians are using Spaceship Voyager.
Q. Is Spaceship only for beginner investors?
Not at all. Spaceship is for anyone who wants access to a low-cost, app-based investment product with a focus on global equities. With Spaceship Voyager, you can start investing in a portfolio of up to 200 companies in just a few minutes — we think that appeals to many people, whether you’re just starting out or you’ve invested before.
Q. How can Spaceship work as a part of a wider investment portfolio or strategy?
Spaceship Voyager gives customers a way to invest in a diversified portfolio of global equities. Our Spaceship Universe Portfolio has a focus on forward-thinking companies, often with a tech tilt, while our Spaceship Origin Portfolio invests in some of the world’s largest companies by market cap.
If a focus in these areas is part of your wider investment portfolio, Spaceship Voyager certainly can make it easy to get started.
Q. What trends has Spaceship seen with investors over 2020?
Like for many investment platforms, the first half of 2020 has not been without its challenges, but performance and overall customer satisfaction have supported our continued growth.
New customers continue to sign up with Spaceship at an impressive rate of about 200-300 a day. In July alone, we welcomed more than 7,000 new investors.
Sharp downturns in the markets can often spook investors and cause them to panic-sell, locking in losses. However, the vast majority of Spaceship Voyager customers held onto their investments during the volatility earlier this year. It’s encouraging to see a large number of customers understand the benefits of long-term investing and hold the course.
Q. What is next for Spaceship/ where will the platform expand to?
Our focus is centred on giving Australians a best-in-class investment app. In the COVID-19 era, it has never been more important for Australians to be able to make the most of their hard-earned cash.
Spaceship is an Australian financial services company offering investment and superannuation products, specifically designed to engage younger people. Spaceship’s successful superannuation product (issued by Tidswell Financial Services Ltd) was released in January 2017. Spaceship’s Voyager investment product was released in May 2018. Combined, it has attracted more than $420 million in funds under management (FUM), with more than 85,000 financial customers. It has almost doubled its customer numbers in the last 12 months.