WTW acquires two managed investment schemes

WTW managed funds managed investments

7 September 2023
| By Rhea Nath |
image
image
expand image

WTW has expanded its Australian investments business with the acquisition of the management rights to two funds from NSW-based advice business, Profile Financial Services.

The multi-asset, multi-manager unitised managed investment schemes were created in April 2011 and will be known as the WTW Diversified Growth Fund (DGF) and WTW Preservation Fund (WPF) effective this month.

According to Aongus O’Gorman, head of investments for WTW in Australia, the firm has had a long relationship with Profile and these funds, having been appointed to manage the portfolios under a fiduciary management agreement in February 2018.

“Profile expressed a desire to separate the ongoing management of these funds, from its core business of financial advice. We intend to manage the funds in the same way as we have over the past five years, while also supporting Profile’s advisers to ensure their clients receive the best possible service,” O’Gorman said.

The WTW investments business currently oversees some $4.7 trillion in advisory assets globally and over $250 billion in delegated assets.

“While our initial focus is squarely on ensuring we continue to service the funds’ existing investors, we can see a growth opportunity with flow-on benefits for all investors,” O’Gorman elaborated.

“Our goal is to expand the client base, particularly into the NFP and wealth management sectors, with the intention of driving improved scale and performance and lowering fees and costs. 

“We see this as a great opportunity to provide smaller institutional investors access to WTW advice combined with high quality institutional grade multi-manager portfolios.”

He added that the risk profile, liquidity, goals-based philosophy and return targets will be attractive to charities and foundations (NFPs) seeking a WTW investment solution.

“While managed accounts are the current preference of many independent financial advisers, WTW managed funds will add to our existing proposition in this sector,” O’Gorman said. 

In January, WTW merged its Asia and Australasia businesses to create one Asia Pacific region, led by Simon Weaver.
 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 22 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 20 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 23 hours ago