Management buy-out takes MPI independent from Enhance.
MPI are pleased to announce that they have completed a management buy-out by acquiring the remaining share capital from Enhance Group Limited. As part of this deal, Enhance MPI Ltd, which operates the Managed Portfolio Indices as a “STEP Member Service”, will be renamed MP Analytics Ltd although will continue to trade as ‘MPI’.
MPI’s Managing Director James Hoare said: ‘We believe that the Managed Portfolio Indices (MPI) can be made even stronger through operating as a truly independent service. This purchase now provides us with an excellent opportunity to build out the MPI Platform without the conflicts of interest that naturally existed between the two businesses.
MPI was created to help trustees, and other approved private client advisors find, compare and select discretionary investment managers for their clients and trusts. They collect and verify data from over 50 management firms and make this available to trustees to help them make informed choices about their managers. The service is currently used by over 250 trust and advice firms.
Enhance’s CEO Tom Wiseman commented: ‘Whilst we have truly valued our long-term involvement with MPI, we recognise the need for ever increasing vigilance of where conflicts may arise. As such we now look forward to working as a client of the Managed Portfolio Indices service, rather than a shareholder.’
The MPI service is available without charge to STEP Members and professional advisers at www.mpindices.com.