Discretionary fund manager Magnus has launched three funds for clients of parent group Wren Sterling’s financial planners.
The trio of multi-asset funds will complement Magnus’s managed portfolio solutions range, which manages more than £1bn of assets for Wren Sterling clients.
Magnus CIO Rory McPherson will manage the funds alongside the MPS range, supported by current deputy manager Georgina Ogilvie-Jones.
Marlborough Group’s Investment Fund Services (IFSL) has been appointed as the funds’ authorised corporate director.
The new range comprises the IFSL Magnus Max 35% Equity fund, the IFSL Magnus Max 60% Equity fund and the IFSL Magnus Max 85% Equity fund, each launching with around £50m of assets in each.
James Twining, Magnus CEO and Wren Sterling Group CEO, said: “We believe the launch of the funds is an important step, which will enable us to provide even greater support for Wren Sterling’s financial planners and, in turn, accelerate the growth of Magnus.
“We believe IFSL are strongly positioned to support Magnus in the next chapter of our growth story. Just as importantly, we believe the culture at IFSL is such that our two businesses will be able to work together very successfully.”
Commenting on the appointment of Marlborough Group’s IFSL as ACD, Twining said: “Appointing an ACD is an important decision, and we held a series of meetings with the IFSL team and took references from a number of their clients before making our decision.”
Martin Ratcliffe, co-CEO of IFSL, added: “We take our responsibilities as ACD very seriously, providing not only robust oversight and governance but also guidance and support at every stage in the process of designing, launching and successfully operating funds.
“As a group, we’re committed to working with like-minded businesses to support their growth by helping them deliver first-class outcomes for their clients. We’re looking forward to a long-term partnership with the team at Magnus.”
The ongoing charges figure for the retail share class will be 0.58% for IFSL Magnus Max 35% Equity, 0.59% for IFSL Magnus Max 60% Equity and 0.57% for IFSL Magnus Max 80% Equity.
