PortfolioMetrix Asset Management, an award-winning investment manager is partnering with Prescient Fund Services (Ireland) Limited to facilitate its expansion into continental Europe.
LONDON, DUBLIN, STOCKHOLM, JOHANNESBURG and CAPE TOWN, 1 February 2019: PortfolioMetrix Asset Management, an award-winning* investment manager is partnering with Prescient Fund Services (Ireland) Limited to facilitate its expansion into continental Europe. PortfolioMetrix has selected Prescient as the UCITS Management Company and Fund Administrator for seven new funds which launched today: three risk-profiled multi-asset, multi-managed portfolios optimized in euro, three for the Swedish market specifically and a global diversified fund.
Established in 2010, PortfolioMetrix is successfully disrupting the old order of how investment management is delivered to financial advisers and their clients. The firm has identified a clear opportunity for a much closer integration of the worlds of the adviser and investment manager, understanding that technology would be a key enabler. With market-leading expertise in asset allocation, fund selection, risk management and portfolio construction, PortfolioMetrix’s investment results have certainly stood up to scrutiny.
PortfolioMetrix has offices in London, Dublin, Johannesburg, Cape Town and, most recently, Stockholm. Expanding further into Europe is central to the firm’s growth strategy. CEO Brandon Zietsman is dismissive of fly-in-fly-out distribution models and believes that, “to build enduring businesses in individual countries, you need to embed yourself in the culture and commit to resources on the ground”.
With this in mind, in 2018, PortfolioMetrix set up an office in Stockholm and has been customizing their proposition for the Swedish market. Peter Oscarson, head of PortfolioMetrix distribution for Sweden said, “what impressed me when first introduced to PortfolioMetrix was their eagerness to understand our market and willingness to adapt to our specific needs”.
“Our partnership with Prescient to provide tailor made UCITS funds for Swedish advisers is pivotal to our strategy,” added Zietsman. "The euro-optimised UCITS funds will be rolled out in other key locations across Europe in 2019.”
Instead of the typical broad-based distribution strategy favoured by most investment managers, PortfolioMetrix has instead favoured fewer, more meaningful relationships with progressive IFA firms, which is fuelling the rapid growth in assets under management.
Asked about the company’s success, CEO Brandon Zietsman responded that, “it’s all about gaining deep insight into understanding and valuing the role played by our partners, the advisers”.
PortfolioMetrix has invested heavily in a proprietary technology called WealthExplorer™, providing advice and efficiency tools to advisers that underpin their investment offering.
Rob Childs, Head of International at Prescient Fund Services Ireland added: “We have been impressed by the achievements of the PortfolioMetrix team and are proud to be supporting their European growth strategy. We believe that Prescient’s platform model will enable PortfolioMetrix to scale in a cost-effective and operationally robust manner”.
*PortfolioMetrix has received the Citywire Wealth Manager Regional Star award for best discretionary fund manager in Greater London for two years running. Separately, they shone at the Citywire UK Annual Performance Awards, where the following appeared in the press release: “PortfolioMetrix, a (then) £1.4 billion boutique founded in South Africa in 2010, was the biggest winner on the night taking home three prizes…”
PortfolioMetrix Asset Management Ltd is authorised and regulated in the United Kingdom by the Financial Conduct Authority (FCA No. 564162) and in Ireland by the Central Bank of Ireland for the Conduct of Business Rules. It is a limited liability company registered in England & Wales under company number 07434014 and with its registered offices at 66 Buckingham Gate, London SW1E 6AU, United Kingdom.
PortfolioMetrix Asset Management SA (Pty) Ltd is authorised and regulated financial services provider in South Africa, regulated under the Financial Advisory and Intermediary Services Act 37 of 2002 (FSP No: 42383). It is a limited liability company registered in South Africa under company number 2006/026054/07 and with its registered offices at Corner Main Office Park, 2 Payne Road, Bryanston, 2191, South Africa.
About Prescient Fund Services
Prescient Fund Services (Ireland) Limited is a limited liability company incorporated under the laws of Ireland having its registered office at 49 Upper Mount Street, Dublin 2, Ireland and is authorised by the Central Bank of Ireland as a UCITS management company pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. 352 of 2011) as amended and as an AIFM pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (as amended).
Effective 31 December 2018, Prescient Fund Services has over USD 25bn combined assets under administration or management globally, of which Prescient Fund Services (Ireland) Limited has over USD 2bn. Prescient Fund Services has over 100 employees globally.
Press release distributed by PressHalo on behalf of Prescient, on 1st February, 2019.