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MPL in strategic deal with Japanese asset manager
Managing Partners Limited (MPL) has signed a strategic partnership with Japanese asset manager United Investments to offer Japanese pension funds access to the returns available through life settlements.
MPL believes the Japan market for funds that invest in life settlements market could be as high as $1bn (£673.49m).
United has launched a private, locally regulated and domiciled fund, that will act as a feeder fund into MPL’s traded policies fund (TPL) – the first of its kind to invest TPLs, according to United.
MPL’s TLP, run by United, will be targeted mainly at Japanese pension clients through various investment vehicles, including managed accounts and private investment trusts under the scope of license.
The TPL was launched in 2004 and uses prudent actuarial analysis to invest in a diversified portfolio of life settlements. It has delivered annual returns of 8-10 per cent.
United aims to offer $100m via its vehicles by the end of 2010.
Institutional share classes are available in yen, dollar, euro and sterling denominations.
Growth share classes, suitable for retail investors, are available in yen, dollar, euro, sterling and Swedish krona – all fully hedged.
The longest-running share class in the fund, US dollar institutional, was launched on June 30 2004 and has delivered a net return of 62.67 per cent since then up to April 1 2010.
Over the year to April 1 2010, it returned 9.03 per cent, according to MPL.
