SYDNEY, September 5, 2023 – WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, today announced the acquisition of the management rights to two multi-asset, multi-manager unitised managed investment schemes, from Profile Financial Services.
The funds were incepted by Profile in April 2011 and will be known as the WTW Diversified Growth Fund (DGF) and WTW Preservation Fund (WPF), becoming a part of WTW’s Australian Investments business.
Head of Investments for WTW in Australia, Aongus O’Gorman described the acquisition as a great result for WTW, Profile and its clients. Aongus said: “We have 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.”
Since WTW began managing the portfolios, it has designed and implemented highly active, diversified solutions that seek to limit downside losses while maximising the probability of achieving the return objectives. Underlying manager fees were also significantly reduced leveraging the scale of WTW Investment business which oversees $4.7 trillion in advisory assets globally and over $250 billion in delegated assets.
Aongus added: “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. 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.
“The local domicile, the goals-based philosophy, return targets, risk profile and liquidity terms of the funds 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 (IFAs), WTW managed funds will add to our existing proposition in this sector.”
The acquisition is effective as of 1 September 2023.
WTW’s Investments business is focused on creating financial value for institutional investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has close to 1,000 colleagues worldwide, more than +1,400 investment clients globally, assets under advisory of over $4.7 trillion and $250 billion of assets under management.
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success - and provide perspective that moves you.
