Progeny Asset Management hits £1 billion AUM

News Team, 24/05/2021

Progeny Asset Management has announced that it passed the £1 billion assets under management mark in April.

Established in 2016 as part of the multi-disciplinary advice firm, Progeny, the asset management business has seen exponential growth in AUM, up from £1m at the start of 2017.

The progress has been underpinned by Progeny’s Centralised Investment Proposition (CIP), developed in 2020 to deliver a unified investment philosophy across all portfolios.

This offers the ability to scale up the investment proposition and provides a consistent and repeatable process and clear messaging, all under one investment committee.

The transfer from advised business to discretionary management for a number of Progeny’s financial advice clients has also contributed to the increase in AUM.

Chief Investment Officer, Ian Hooper, said: “We’re delighted with the progress we have made since our launch in 2016. It’s the result of hard work, innovative thinking and shows the benefits of being part of a forward-looking and uniquely structured business.

“Hitting this milestone demonstrates how a robust investment proposition and Progeny’s business model of bringing all a client’s advisers under one roof can deliver exceptional results. The growth in AUM has come irrespective of investment strategy, be it systematic or unconstrained.

“The Centralised Investment Proposition has been a game-changer. All available CIP portfolios outperformed in 2020, beating the relevant composite benchmarks. Additionally, a consistent investment process and clear messaging combine to deliver a smoother financial and emotional journey for investors.”

Mr Hooper added: “Technology will play a key role in helping us create a better proposition for clients and in allowing us to bring costs down and we will be seeking to work with companies that use technology intelligently and in a way that allows us to be nimble and agile in our operations.

“We look forward to continuing to build a compelling, robust and cost-effective investment proposition for clients, constructing portfolios with a focus on performance.”

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