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February 17, 2022

M&G moves into MPS market with TCF Investment takeover

UK wealth manager M&G has entered the model portfolio services segment through the acquisition of investment management firm TCF Investment .

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Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
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Financial terms of the deal were not disclosed.

M&G said that the acquired entity will be part of its wealth division and rebranded in due course.

M&G Wealth will be responsible for the management of TCF’s MAPS offering that is designed to cater to a spectrum of customer risk appetites and profiles through a collection of multi-asset model portfolios.

The company also plans to add a new range of portfolios to MAPS in the coming months.

This offering will remain available on other wealth platforms with current adviser models supported and offered to new firms.

M&G Wealth also plans to bring down the current standard TCF fees to 0.15% per annum from current levels of 0.35% or 0.25% per annum, based on the portfolio. 

As part of the agreement, TCF joint founders David Norman and Gary Mairs will exit the business, which will now be led by M&G Wealth CIO Shanti Kelemen.

Kelemen said: “TCF Investment has an excellent long-term performance track record and a scalable platform for the management of model portfolios. This complements M&G plc’s existing investment capability and accelerates our ability to offer model portfolios. 

“It will allow us to bring new services to market, through all our distribution channels quickly. 

“We will also introduce new model portfolios to supplement MAPS later this year, with a focus on investing globally and incorporating environmental, social and governance factors in the investment process.”

Commenting on the deal, Norman said: “Combining this with M&G’s financial strength, wider investment capability and distribution reach, it will provide the perfect opportunity to create a market-leading proposition for consumers and intermediaries.

“In the short-term it’s very much business as usual, but exciting developments are ahead for the business.”

Last month, M&G obtained a minority stake in robo-adviser Moneyfarm under a strategic alliance to offer investment services to its UK customers.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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