10.21.2024
Wren Sterling DFM Magnus Passes £1bn in Assets
Chief investment officer Rory McPherson reflects on the growth of Magnus, the DFM of the Wren Sterling group.
LONDON, Oct. 21, 2024 /Citywire/ --Magnus, the DFM of the Wren Sterling group, has recently passed £1bn in assets under management. The business was started by the Mutual Financial Management team in 2020, and was acquired by Wren Sterling in November 2022. The portfolios were made available to Wren Sterling’s clients in early 2023 with £270m, meaning assets have grown by approximately 370% in 18 months.
Spearheaded by CIO Rory McPherson, Magnus now holds one in every eight pounds of client assets within Wren Sterling, with 85% of the group’s advisers recommending the range to some extent. He outlined the firm’s story and investment process, as well as his thoughts on the MPS marketplace, in this interview in March.
We caught up with McPherson again to hear his thoughts on the £1bn milestone.
I’m super proud of how we’re delivering for Wren Sterling’s clients and growing the business. The team is laser focused on delivering predictable performance at a great price point and combining that with outstanding levels of communication and service – it is great to see this approach paying off.
We’re loving working with the Wren Sterling advisers and the reaction has been fantastic. Many of the advisers have chosen to use us on behalf of their clients and that’s a big thumbs up for all the excellent work that the team have done. We are very fortunate in the team that we have got and it’s working really well. Georgie Ogilvie-Jones and I focus day-to-day on the MPS and we’re ably supported by our investment managers Tom Hinds and Emma Matthews, whilst Laura Harrison Johnson does a great job at maintaining our models on the various platforms our clients use. Clemmie Vaughan provides fantastic oversight and direction in her role as a NED [non-executive director] and chair of the investment committee, and Paul Chafer does a brilliant job at running the business in his capacity as managing director, with James Twining, our CEO, providing top level oversight.
The active MPS models are where we have seen the most interest and this is the purest example of the process we’ve built. All our portfolios have an engine room of excellent, but lower-tracking error managers; to help us deliver the predictability of returns. We then complement this, with smaller allocations to punchier managers that have a wider mandate to boost returns. This approach has really resonated well with our clients and we’ve been able to secure some cracking share class deals that’s meant we’ve delivered strong performance at a great price point.
We’ve greatly enjoyed marketing the offering to the wider Wren group over the last 18 months and getting to £1bn is a brilliant endorsement of all the work that’s been done and of the team and process that is in place.
We’ve come a long way in a short space of time and I’m excited about the future for Magnus, which is all about growing our MPS service, as well as developing our recently launched Core Plus portfolios, which are a passive alternative to our active MPS models.
Wren Sterling DFM Magnus Passes £1bn in Assets
Chief investment officer Rory McPherson reflects on the growth of Magnus, the DFM of the Wren Sterling group.
LONDON, Oct. 21, 2024 /Citywire/ --Magnus, the DFM of the Wren Sterling group, has recently passed £1bn in assets under management. The business was started by the Mutual Financial Management team in 2020, and was acquired by Wren Sterling in November 2022. The portfolios were made available to Wren Sterling’s clients in early 2023 with £270m, meaning assets have grown by approximately 370% in 18 months.
Spearheaded by CIO Rory McPherson, Magnus now holds one in every eight pounds of client assets within Wren Sterling, with 85% of the group’s advisers recommending the range to some extent. He outlined the firm’s story and investment process, as well as his thoughts on the MPS marketplace, in this interview in March.
We caught up with McPherson again to hear his thoughts on the £1bn milestone.
I’m super proud of how we’re delivering for Wren Sterling’s clients and growing the business. The team is laser focused on delivering predictable performance at a great price point and combining that with outstanding levels of communication and service – it is great to see this approach paying off.
We’re loving working with the Wren Sterling advisers and the reaction has been fantastic. Many of the advisers have chosen to use us on behalf of their clients and that’s a big thumbs up for all the excellent work that the team have done. We are very fortunate in the team that we have got and it’s working really well. Georgie Ogilvie-Jones and I focus day-to-day on the MPS and we’re ably supported by our investment managers Tom Hinds and Emma Matthews, whilst Laura Harrison Johnson does a great job at maintaining our models on the various platforms our clients use. Clemmie Vaughan provides fantastic oversight and direction in her role as a NED [non-executive director] and chair of the investment committee, and Paul Chafer does a brilliant job at running the business in his capacity as managing director, with James Twining, our CEO, providing top level oversight.
The active MPS models are where we have seen the most interest and this is the purest example of the process we’ve built. All our portfolios have an engine room of excellent, but lower-tracking error managers; to help us deliver the predictability of returns. We then complement this, with smaller allocations to punchier managers that have a wider mandate to boost returns. This approach has really resonated well with our clients and we’ve been able to secure some cracking share class deals that’s meant we’ve delivered strong performance at a great price point.
We’ve greatly enjoyed marketing the offering to the wider Wren group over the last 18 months and getting to £1bn is a brilliant endorsement of all the work that’s been done and of the team and process that is in place.
We’ve come a long way in a short space of time and I’m excited about the future for Magnus, which is all about growing our MPS service, as well as developing our recently launched Core Plus portfolios, which are a passive alternative to our active MPS models.