This section of our website is intended for professional intermediaries and should not be relied upon by retail investors. Please note that our portfolios are generally not directly available to retail clients without the recommendation of a financial adviser.
Our unique combination of financial and legal services…
OEIC fund solutions
Progeny Asset Management Limited (PAM) operates Open-ended Investment Companies (OEICs), which are authorised and regulated by the Financial Conduct Authority. Margetts Asset Management is our Authorised Corporate Directors (ACDs). They act in the best interests of the fund’s investors, and ensure that the fund is well managed in line with regulations and with the investment objectives and policies set out in its prospectus. Our funds are named MGTS Progeny.
Launched in February 2022, the MGTS Progeny Funds are a range of open-ended investment companies. We apply the same investment principles and rigorous quantitative research as we have always done.
The difference with the new fund range is that it is designed to provide investors with access to lower underlying fund costs, greater tax benefits, trading efficiencies and a transparent approach to Asset Allocation that can be applied consistently to all our investment strategies.
Our range of equity and bond funds consists of four risk-rated funds that can be building blocks that when combined provide cost effective, risk managed MPS solutions, with a focus on performance and a smoother investment journey.
- MGTS Progeny Dynamic Equity Fund (for Dynamic MPS)
- MGTS Progeny Dynamic Bond Fund
- MGTS Progeny Systematic Equity Fund (for Tempo MPS)
- MGTS Progeny Systematic Bond Fund
Our OEIC funds, which are NURS (Non-UCITS Retail Schemes) provide a practical and cost-efficient way to manage clients’ investments, whilst aligning them to their long-term investment goals. There are several important benefits, through scale to both increased investment flexibility and an effective structure to manage assets.
- Where used in a Managed Portfolio Service, the fees are charged as an Annual Management Charge, to keep fees minimal, as PAM manage the investments inside the Progeny Funds
- Scale means lower underlying fund charges which are presented in the Ongoing Charges Figure (OCF)
- Ability to ‘roll up’ Capital Gains Tax within the fund, which means it is not charged at an investor level, for transactions within each Progeny Fund.
- Better economies of scale and ability to negotiate better terms on behalf of investors
- A consistent and transparent approach to risk profiling and asset allocation decisions, including the ability to profile for ESG investing.
This type of structure will not incur capital gains tax (CGT) charges when PAM trade holdings within the fund, for example, on-going changes to investments. This will bring greater tax efficiency for investments held in taxable wrappers, such as General Investment Accounts (GIAs.)
This fund structure allows trades in underlying investments without incurring multiple transactions. Our investment managers are able to place a single transaction at the fund level rather than trading for many different client accounts, therefore increasing trading speed and efficiency.
This type of structure will not incur capital gains tax (CGT) charges when PAM trade holdings within the fund, for example, on-going changes to your investments. This will bring greater tax efficiency for investments held in taxable wrappers, such as General Investment Accounts (GIAs.) No Capital Gains Tax (CGT) is payable on gains made by investments held within an OEIC fund, however, CGT may be payable when a client sells all or part of their investment depending on their personal circumstances.
The value of investments and income from them is not guaranteed, can fall, and you may get back less than you invested. Your capital is therefore always at risk. It should be noted that stock market investing is intended for the longer term.
Tax treatment depends upon individual circumstances and is based on current UK tax legislation, that is subject to change at any time.
Investors should ensure that they have read and understood the Non UCITS Retail Key Investor Information Document (NURS-KII).