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Progeny Asset Management Marks Two Years in Business – Timeline

2nd May 2018
Sun shining through office window

It was Albert Einstein who said: ‘Strive not to be a success, but rather to be of value’. Sage advice and an important distinction in a world where we’re often surrounded by a blind ambition to succeed or to compete for the sake of competing. In fact, it’s more important to step back and work out not what’s in it for you, but what contribution you can make, how you can improve peoples’ lives and what value you can add.

Progeny Asset Management was created two years ago with this principle firmly in mind – to deliver value to its investment clients and financial advisers. As we approach our two-year anniversary, it’s a timely opportunity to look back on how the world has developed since 2016 and how Progeny Asset Management has grown and responded to the shifting landscapes of global politics and finance.

It’s been a turbulent time on the world stage, full of unexpected events and unanticipated developments. While Progeny Asset Management is only officially two years old, it rests on the many years of combined expertise that sit together on our board and the deeper foundations of experience of the Progeny Group. It’s because of this that we’ve been able to plot a smooth course for our investors through these unpredictable and sometimes volatile market conditions, making sure they remain on track to achieve their long-term goals.

  1. April 2016

    Launch of Progeny Asset Management

    Progeny Asset Management is established with the aim of providing bespoke investment management to help all generations navigate financial markets and to grow and preserve wealth for the future. It is created by an experienced and close team, as a part of Progeny Group, the first multiservice professional platform providing a unique combination of wealth management and legal advice for private clients, corporates and family offices.

  2. June 2016

    EU referendum

    The UK votes to leave the European Union by a margin of 51.9% to 48.1%. Immediately after the result is announced, the pound falls to its lowest rate against the dollar since 1985.1

  3. Growth

    Progeny Asset Management directors and staff work on the application for Authorisation from the Financial Conduct Authority before commencing regulated activities. With a clear vision for the business, we take advice on forthcoming EU directives in formulating our policies, procedures, and client-facing documents. By starting out already compliant with MiFID II and the General Data Protection Regulation, we future-proof the business and minimise disruption for clients further down the line.

  4. November 2016

    US elections

    Businessman and reality TV personality Donald Trump wins the US election for the Republican party. Global markets react with extreme volatility to news of his victory.2

  5. A plan for volatility

    As global political uncertainty increases, so does the prospect for market volatility. With a considered investment strategy and by working alongside an investment manager who understands your long-term objectives and level of risk tolerance, movement in the market can also provide opportunities. We work closely with our clients to put an investment plan in place to guide investment decisions and to keep them on track to meet their goals by taking advantage of activity in the market.

  6. March 2017

    Article 50 triggered

    Nine months after the UK voted itself out of the European Union, Prime Minister Theresa May activates Article 50 of the Lisbon Treaty – the official mechanism that will make Brexit a reality by formally beginning the process for the UK’s departure.

  7. Taking AIM

    Our AIM portfolio offers clients the opportunity to mitigate the effects of Inheritance Tax through investment in the Alternative Investment Market. It is a discretionary, managed service which allows clients to invest in the smaller companies traded on AIM, many of which qualify for Business Relief – an established form of tax relief that looks to benefit investments in specific businesses. In recent years investment in AIM companies has grown in popularity as a viable estate-planning option.

  8. June 2017

    UK election

    A snap election is called in the UK. The governing Conservative Party narrowly win, remaining the single largest party, but lose their majority resulting in the formation of a minority government with the support of the Democratic Unionist Party (DUP) of Northern Ireland.

  9. January 2018

    No hidden charges

    The MiFID II directive comes into effect in early 2018 to increase transparency around costs and charges. At Progeny Asset Management, our fees are transparent and, virtually uniquely amongst our competitors, we don’t pass dealing costs on to our clients, so the introduction of the new directive didn’t introduce or uncover any surprise charges for our investors.

  10. February 2018

    Market volatility

    The markets witness a significant and dramatic increase in volatility, wiping an estimated $4 trillion off the value of world stocks.

  11. Charity and Community

    At Progeny, we understand that global political and financial volatility can also bring challenges. We want to use our success as a catalyst for making real change in the UK and around the world. We support a number of charities, including: the Leeds Community Foundation; national children’s charity, Dreams Come True; Martin House Hospice in Leeds; St Luke’s Hospice in Harrow and Brent; and Horatio’s Garden in Salisbury.

  12. April 2018

    Trade wars and low interest rates

    Economic sabre-rattling between President Trump and President Xi raises the prospect of a trade war between the USA and China that unsettles global markets, consumers and businesses. Interest rates remain at historically low levels and seem likely to remain so for the foreseeable future.

  13. Launch of Optimised Passive Income 60/40

    We launched our new passive income product in response to the new norm of low interest rates that investors have to contend with. Our new portfolio product has been created specifically for this climate and is a low-cost, index-tracking solution designed for investors seeking exposure to a range of global asset classes and has a target yield of 3% per year.

  14. March 2019

    Reality of Brexit

    With Brexit less than 12 months away, ongoing uncertainty over what it will ultimately entail and the financial impact it will have on the UK economy and markets continues.

  15. We pride ourselves on our client-led ethos, which we understand is particularly important in times of economic uncertainty. We provide a consistently high standard of personal service to our investors and are always available and willing to discuss your requirements or developments in the market as they apply to your portfolio and investment objectives.

We look forward to continuing to meet and exceed our clients’ investment management needs as part of the ongoing growth of our business.

If you value the thought of working with a forward-thinking firm built on a firm foundation of expertise and experience, please get in touch. We’d love to hear from you.

This article does not constitute Investment advice. Individuals must not rely on this information to make a financial or investment decision. Before making any decision, we recommend you consult your Investment Manager to take into account your particular investment objectives, financial situation and individual needs. Past performance is not a guide to future performance. The value of an investment and the income from it may go down as well as up and investors may not get back the amount originally invested, therefore your capital is always at risk.

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This article is distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. This article contains the opinions of the author but not necessarily the Firm and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable but is not guaranteed.

Past performance is not indicative of future results and the value of investments can fall as well as rise. No representation is made that the stated results will be replicated.