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Press Room • 2011
Press articles published in some of the most prestigious financial publications throughout the world.
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Publication: International Adviser |
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Publication Date: 02/11/11 |
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The rise of local share class denomination explained |
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When investors have selected an economy they want to invest in, it is becoming increasingly common for them to also want that investment made in the local currency, Jeremy Leach, managing director of Managing Partners Limited explains why.
The ongoing shift in economic power from West to East is well known. Western governments are now relatively more indebted than those of Asia, which is reflected in credit rating downgrades, most notably that of the United States. There are many consequences to this but what we are seeing in the international investment market is a growing number of fund share classes being denominated in the currencies of what have been deemed as ‘emerging’ for some time.
The emerging markets of Asia are different from those of other regions. This is because countries in Latin America and the Middle East still largely peg their currencies to the US dollar. Furthermore, In the Middle East there is a different driver, as investors there are very cautious about investing locally because of the state of the market, especially in the United Arab Emirates. There is a moral and cultural requirement to invest locally but they do wish to spread their investment overseas and are happy to do so in Western currencies.
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Publication: Managing Partners News |
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Publication Date: 13/10/11 |
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Traded life policies are set for global boom as investors seek refuge from market volatility |
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Traded life policies (TLPs), or life settlements, are attracting increased interest from investors around the world as worries over government debt in the Western world threatens to spark further financial crises, says Managing Partners Limited, the boutique fund manager.
MPL has seen the Net Asset Value of its Traded Policies Fund rise from $126.6m to $176.9m over the year to 15 September 2011, representing a near 40% rise. Over this time the value of new subscriptions into the Fund was $40.5m. Interest in the Fund has been generated from across Europe and in Asia, where investors looking for alternatives to equities and bonds are attracted to the steady, incremental returns offered by TLPs.
The Merlin Stone Report 2010, commissioned by MPL and available for free on its website (www.managing-partners.com), pointed out that estimates of the size of the TLP market in North America has grown from around $2bn in 2002 to $16bn in 2008 in terms of the face value of policies traded. There are estimates for the market to grow as high as $161bn by 2030.
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Publication: Global Money Management |
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Publication Date: 13/09/11 |
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Traded Policies Fund targets Swiss investors |
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Managing Partners Limited (MPL)has launched a Swiss Franc share class in its Traded Policies Fund to meet the appetite from Swiss investors for investment vehicles denominated in their domestic currency.
The volatility seen this week in the Swiss Franc highlighted the risks they – and investors globally – face when investing in foreign assets without currency hedging in place, according to MPL.
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Publication: Asset Adviser |
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Publication Date: 12/09/11 |
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MPL launches Swiss Franc share class |
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Managing Partners Limited, the boutique fund manager, has launched a Swiss Franc share class in its Traded Policies Fund to meet the appetite from Swiss investors for investment vehicles denominated in their domestic currency, of which there is a limited supply.
MPL also anticipates growing demand from Swiss investors for an asset class that delivers steady, incremental returns uncorrelated to the financial markets, which are beset by a high level of volatility.
The volatility seen this week in the Swiss Franc highlighted the risks they – and investors globally – face when investing in foreign assets without currency hedging in place. The new Swiss Franc Growth share class is available to both institutional and retail investors.
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Publication: Daily Telegraph |
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Publication Date: 07/09/11 |
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Your money in their hands |
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Publication: Managing Partners News |
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Publication Date: 15/07/11 |
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Research reveals low correlation between TLP`s and other asset classes as uncertainty grips markets again |
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As equity and bond markets are beset by fears of another financial crisis, new research by Managing Partners Limited, the boutique fund manager, reveals the extent to which traded life policies (TLPs) are uncorrelated with other major asset classes, particularly in bear markets.
MPL’s Traded Policies Fund, which invests in TLPs, was negatively correlated to both equities and bonds over the last five years whenever the latter suffered substantial downturns, according to the research. For example, the Fund was correlated by -35% to equities over the five years to 1 May 2011 and by -45% to bonds over the year to that date.
The research demonstrates that when managed in a prudent and cautious manner, TLP funds can be used to deliver steady and incremental returns irrespective of what is happening to other asset classes.
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Publication: Managing Partners News |
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Publication Date: 10/07/11 |
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MPL`s Traded Policies Fund delivers 82.56% over seven years as the value of policies held surpasses $200M |
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The Traded Policies Fund, which invests in traded life policies (TLPs) and is managed by Managing Partners Limited, the boutique fund management company, celebrates its seventh anniversary having delivered outstanding steady and incremental returns, even throughout the financial crisis.
The Fund’s US dollar-denominated institutional share class returned 82.56% net of charges over the seven years from launch to 1 July 2011. It never delivered a negative return in any single quarter over that time. The Fund, which offers institutional and retail share classes denominated in US dollar, Sterling, Euro, Yen, and Swedish krona, has also reached $201.75m in terms of the face value of policies under management.
The Fund’s Sterling Growth Share Class, which is available to retail investors, returned 9.31% net of charges over the year to 1 July 2011, and has returned 46.55% since its launch on 15 March 2007, equivalent to an annualised return of 9.41%.
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Publication: Managing Partners News |
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Publication Date: 25/05/11 |
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MPL says nervous investors should look to TLP funds with five-year track records |
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Investors with concerns about traded life policy (TLP) funds as an asset class should look at those with a minimum five-year track record, Jeremy Leach, managing Director of boutique fund manager Managing Partners Limited (MPL), told delegates at the International Life Settlement Conference in The Royal Horseguards Hotel, London today.
Five years or more is sufficient for a fund to demonstrate that it can deliver the steady, incremental returns uncorrelated to the financial markets and which are possible from the asset class. Performance of TLP funds over the last five years is particularly telling because this period includes one of the deepest financial crises in history, Mr Leach said.
TLPs, also known as life settlements, are US-issued whole of life policies sold before their maturity date to allow the original owners to enjoy some of the benefits during their own lifetimes. They offer investors the security of knowing exactly what amount will be paid out upon maturity, but not when. Therefore fund managers need to carry out prudent actuarial analysis and sufficient diversification.
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Publication: Managing Partners News |
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Publication Date: 18/01/11 |
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Research shows IFAs looking for with-profits alternatives |
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New research(1) from Managing Partners Limited (MPL), the boutique fund manager, reveals more than half of IFAs (55%) are looking for investments that are alternative to with-profits but which have the same characteristics.
Overall, the research shows IFAs have a dim view of with-profits themselves: only 3% of IFAs have a very positive view and 15% are quite positive while more than half (55%) have a negative view, with 20% being very negative. Nearly four out of five (77%) said they would not recommend clients to invest in with profits-based investments.
MPL believes that IFAs looking for the steady, incremental returns that with-profits once offered should consider traded life policies (TLPs). TLPs are US-issued whole of life policies sold before their maturity date to allow the original owners to enjoy some of the benefits during their own lifetimes. By building diversified portfolios of TLPs and carrying out the right actuarial analysis, fund managers can use them to deliver steady returns that are uncorrelated to other financial assets.
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