Based in London, Leeds and Salisbury, Progeny provides wealth management and legal advice for private clients, corporates and family offices.
Its latest ETF solution, called Optimise Investment Income 60/40, is being launched by the investment management arm of Progeny Group.
It will use 14 iShares ETFs to construct the portfolio. A spokesperson told Portfolio Adviser iShares £ Corp Bond 0-5yr, iShares FTSE 250 and iShares MSCI USA Quality Dividend are among the holdings currently in the portfolio.
Upside exposure
The product, which is only available to clients through their financial advisers, is for investors seeking upside exposure and yield.
“The Optimised Passive Income 60/40 is designed for investors who wish to have exposure to a range of global asset classes and a target yield of 3% a year but with modelled annual drawdown in any 12-month period, not expected to exceed 7%,” a Progeny spokesperson said.
The product is expected to allocate around 60% globally to equities, private equity, property, and around 40% to global fixed income.
Diversified focus
Ian Hooper, director of Progeny Asset Management, said: “We know investors and their advisers need diversified upside exposure and yield, but also wish to understand the downside risks.”
Hooper said the firm worked closely with industry players to design the solution that is based on a diversified range of ETFs.
“Progeny looks after the fund selection, the market exposure is provided via a suite of iShares. Winterflood Business Services provides custody and trading services,” he said.
Based on expected demand, Progeny said it will likely launch a suite of similar solutions in the future.
