True Potential in-house fund range more than doubles to £4bn

Harrison-David-True Potential-2013
True Potential managing partner David Harrison

True Potential has grown assets in its discretionary portfolios by £2.1bn in 2017.

In its annual results, published today, the platform says it has attracted £3.8bn assets in its in-house funds in 2017, up from £1.7bn in the previous year.

Assets into the funds were at £0.7bn in 2015.

Since launch in October 2015, True Potential’s Balanced + Portfolio has grown by 28.8 per cent and the Aggressive Portfolio by 41 per cent, according to the firm.

Total assets on the platform increased by 40 per cent to £7bn.

In the year ended 31 December 2017, revenues climbed to £99m, increasing 43 per cent from £69m in 2016 and £56.7m in 2015.

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Profits also rose by 61 per cent from £15m to £24m throughout 2017.

True Potential managing partner David Harrison says: “Last year turned out to be a remarkable one for True Potential.

“When we published our last set of results, I said that the future looks particularly bright. That proved to be something of an understatement.”

Earlier this month, True Potential decided to end its relationship with technology provider SEI to develop its own in-house platform technology,

Today, the company says it is also incorporating Blockchain technology to have “total control” over trading, reporting and costs.

Harrison claims True Potential is the first platform in the UK to use Blockchain across its systems.

In an attempt to drive costs down, Finance & Technology Research Centre director Ian McKenna says it is “a logical step” for platforms such as True Potential to adopt blockchain technology.

True Potential Portfolios performance

Portfolio

12 Months performance

1st January 2017 to 31st December 2017

Since launch performance

1st October 2015 to 31st December 2017

Defensive

4.0%

13.22%

Cautious

5.29%

19.30%

Cautious +

6.22%

19.52%

Cautious Income

6.33%

21.17%

Balanced

8.31%

27.10%

Balanced +

8.89%

28.76%

Balanced Income

6.80%

24.37%

Growth

10.86%

34.90%

Growth +

12.86%

34.58%

Aggressive

13.54%

41.03%

Source: True Potential

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  1. Robert Milligan 23rd April 2018 at 3:39 pm

    How do we explain Independence!!

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