press room
Press Room • 2010
Press articles published in some of the most prestigious financial publications throughout the world.

Publication: Managing Partners News
Publication Date: 01/11/10
 
MPL Traded Policies Fund delivers 49.73% over five years
 
LONDON, 01.11.2010 – The Traded Policies Fund (‘the Fund’) which is managed by fund manager, Managing Partners Limited (MPL), has recently celebrated its fifth anniversary having delivered outstanding steady, incremental returns, even throughout the turmoil of the credit crunch.

The Fund’s euro-denominated Institutional share class returned 49.73% net of all charges over the five years to 15 August, 2010, having never delivered a negative return in any single quarter over that period.

Its performance makes the Fund one of the outstanding performers over a period that has seen many investment funds suffer substantial losses as a result of the global financial crisis, which impacted all of the main asset classes. The Fund’s anniversary also coincides with the recent launch of The Market for traded life policies, a report by Professor Merlin Stone, visiting Professor at Oxford Brookes, De Montfort and Portsmouth Universities, which discusses the increasing popularity of traded life policies by IFAs and global brand names such as Citibank and BNY Mellon.

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Publication: Managing Partners News
Publication Date: 06/10/10
 
MPL’s Traded Policy Fund achieves ‘AA’ ranking from rating agency Telos
 
London, 6 October 2010 – Managing Partners Limited (MPL), the international investment company, is delighted to announce that its Traded Policy Fund (the “Fund”) has been awarded an ‘AA’ rating by Telos, the rating agency.

The Fund invests in Traded Life Policies, which are US-issued, whole of life assurance policies sold before the maturity date to allow the original owner to enjoy some of the benefits during their lifetime. The Fund’s US dollar-denominated Institutional share class returned 68.95% net of all charges over the six years to 1 September, 2010, having never delivered a negative return in any single quarter over that period.

Jeremy Leach, Managing Director of MPL, commented: “We are delighted to have received this prestigious rating from Telos. Despite the harsh economic conditions over the past couple of years, the Fund has continued to attract new investment and provide double digit returns irrespective of what has been happening in the financial markets elsewhere. This rating is a strong endorsement of our management style and the ever increasing popularity TLPs are attracting from IFAs and institutional investors.”

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Publication: Managing Partners News
Publication Date: 30/09/10
 
Only one provider is selling TLP funds via FSA-Regulated promoter, rountable debate is told
 
LONDON, 30.09.2010 – Only one of the six product providers selling traded life policy funds in the UK is doing so via a subsidiary promoter that is authorised by the Financial Services Authority, participants in a roundtable debate were told. Yet more direct regulation of product providers’ would be highly advantageous and would help raise the quality of their marketing material, the debate concluded.

Participants in the debate, sponsored by boutique fund manager Managing Partners Limited, agreed that a ‘good’ TLP fund should be sold via a UK-regulated promoter, have an investment process that uses the right actuarial analysis of the underlying policies, that invests in a diverse range of policies to control risk and maintains a diligent control on liquidity and currency risk.

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Publication: Managing Partners News
Publication Date: 02/08/10
 
Report sees new wave of TLP investment products
 
LONDON, 02.08.2010 – The potential for traded life policies (TLPs) to deliver resilient returns during the financial crisis attracted the interest of key large players – but increasing focus on this relatively new asset class is also creating several dangers for unwitting investors, according to Professor Merlin Stone in his 2010 report on TLPs.

Managing Partners Limited, the boutique fund manager that commissioned the report, has seen assets under management in its Traded Policies Fund rise from $176m in June 2009 to $190m in June 2010 in terms of the gross value of policies held within the Fund, which now has five of the world’s top 20 banks as investors. Research* commissioned by MPL also found that seven out of 10 life settlement brokers in the US said they expected to see more policies being sold on the market over the next five years, fuelling growth in investment products.

Professor Stone’s report, entitled The Market for traded life policies, says that increasing interest in TLPs has even attracted global brand names such as Citibank, BNY Mellon, Credit Suisse, Commerzbank, Deutsche Bank, HSBC, Allied Irish Bank, Wells Fargo, Dresdner Kleinwort, Cantor Fitzgerald and Citibank to the market. He also anticipates that boutique product providers could also be taken over by larger fund managers seeking to buy up expertise on TLPs.

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Publication: Managing Partners News
Publication Date: 06/07/10
 
MPL’s Traded Policies Fund delivers 66.41% over six years
 
LONDON, 06.07.2010 – Managing Partners Limited (MPL), the boutique fund manager, is delighted to announce that its Traded Policies Fund (‘the Fund’) celebrates its sixth anniversary having delivered outstanding steady, incremental returns, even throughout the turmoil of the credit crunch.

The Fund’s US dollar-denominated Institutional share class returned 66.41% net of all charges over the six years to 30 June, 2010, having never delivered a negative return in any single quarter over that period. The Fund also compared very favourably to the AAP Life Settlement Index, which rose 8.73% throughout 2007and 3.99% in 2008 and fell 0.88% in 2009. The Fund returned 7.30% in 2007, 9.64% in 2008 and 8.72% in 2009. The index tracks the performance of funds implementing an investment strategy in the US life insurance sector and serves as a benchmark for investments in traded US life insurance.

The Fund’s GBP Growth share class, which is suitable for UK retail investors, returned 8.87% over the 12 months to 30 June and 31.13% over the three years to that date, net of all charges.

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Publication: Managing Partners News
Publication Date: 21/06/10
 
MPL announces strategic partnership with United Investments in Japan to exploit $1bn market
 
LONDON, 21.06.10 - Managing Partners Limited (MPL), the boutique fund manager, today announces that it has signed a strategic partnership deal with asset manager United Investments to give Japanese pension funds the opportunity to exploit the steady incremental returns offered by life settlements. They believe the appetite in Japan for funds that invest in life settlements could be as high as $1bn a year.

United has launched a private fund, a locally regulated and domiciled, Yen-denominated structure that will act as a feeder fund into MPL’s Traded Policies Fund. It is the first feeder structure in Japan to invest in TLPs.

United Investments was founded in 1999 in Tokyo as a subsidiary of Boston-based United Asset Management Corporation, and is currently under the umbrella of Japan Asia Holdings Group. Since the company’s inception, it has provided both institutional investors and individual investors with a broad range of investment products, having built up excellent relationships with investment managers across the world. United will deliver MPL’s Traded Policies Fund mainly to Japanese pension clients through various investment vehicles, including managed accounts and private investment trusts under the scope of license. United aims to offer $100 million via its vehicles by the end of 2010.

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Publication: Managing Partners News
Publication Date: 05/05/10
 
FX volatility threatens TLP funds’ liquidity
 
LONDON, 06.05.10 – Funds that invest in traded life policies (TLPs) must use a blend of currency hedging solutions in order to deal with the ongoing volatility on FX markets, according to Jeremy Leach, Managing Director or Managing Partners Limited (MPL), in an address to an industry conference.

Speaking to delegates at the Insurance-Linked Securities Summit conference held at the Meridian Hotel in Piccadilly, London, Mr Leach said that chronic FX volatility now posed the greatest liquidity risk for TLP funds. TLPs are United States-issued whole of life policies sold before maturity so that the original policyholders can enjoy some of the benefits in their own lifetimes.

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Publication: Managing Partners News
Publication Date: 08/04/10
 
Managing Partners to stage free masterclass on TLPs
 
LONDON, 08.04.2010 - Managing Partners Limited (MPL), the boutique fund manager, is staging a free masterclass for IFAs and institutional investors on traded life policies (TLPs), which are gaining increasing recognition for their ability to deliver steady, predictable returns uncorrelated with other asset classes. The event is being organised through MPL’s subsidiary, Managing Partners Capital, which promotes MPL’s products in the UK.

It is the latest of several masterclasses staged by MPL and demonstrates the company’s commitment to raising knowledge levels about this relatively new and exciting asset class. Peter Smith, Head of Investments Policy, Conduct Policy Division at the FSA, recently criticised product providers for failing to provide enough information about TLPs and raised questions about financial advisers’ level of knowledge about them.

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Publication: Managing Partners News
Publication Date: 02/02/10
 
MPL sees groundswell of interest
in life settlement funds in Asia
 
London, 02.02.2010 – Managing Partners Limited (MPL), the international investment company that manages funds that invest in life settlements, is encountering a groundswell of investor interest in Asia, having become the first company to have a life settlement fund authorised for distribution to institutions in South Korea and completing a marathon tour of presentations to pension scheme providers in Japan.

MPL’s Traded Policies Fund (the ‘Fund’) has been filed with the Financial Services Commission (Financial Supervisory Service) in South Korea and was registered as of December 2009, authorising it to be distributed to institutions. MPL is also in advanced discussions with two asset management companies in Korea with a view to launching feeder funds into the Fund.

Jeremy Leach, MPL’s Managing Director, and Harvey Athwal, MPL’s Sales Director for Asia, have also just completed a tour of 55 pension schemes in Tokyo and Osaka, where they presented on the benefits of the Fund and life settlements as an asset class. MPL has also signed a distribution deal with a Japanese asset management company that will distribute the Fund in Japan.

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