Metropolitan Collective Investments takes over the portfolio management of Dynamic Wealth Management (DWM) Unit Trust Funds

17 September 2010 Metropolitan Collective Investments

Metropolitan Collective Investments (MetCI) has reassured concerned Dynamic Wealth Management unit trust fund investors that their investments are safe and that the company will be stepping in to take over the portfolio management of these funds.

This comes after the Registrar for Financial Services Providers withdrew the FAIS licence of Dynamic Wealth Management (licence no 559).

The funds affected are the Dynamic Wealth Accumulator Fund of Funds, Dynamic Wealth Creator Fund of Funds, Dynamic Wealth Optimal Fund, Dynamic Wealth Preserver Fund of Funds, Dynamic Wealth Property Fund, Dynamic Wealth Real Income Fund and the Dynamic Wealth Value Fund.

Says Robert Walton, managing director of Metropolitan Collective Investments (MetCI), investors need not be concerned as these funds are currently being administered by MetCI and most of the funds are being multi-managed and are performing well. Metropolitan Collective Investments already manages all processes for the Metropolitan DWM white label unit trust funds such as administration and compliance, while the portfolio management was the responsibility of DWM and selected portfolio managers. With the revoking of the licence from DWM for the unit trust portfolio management, MetCI will now take over all the portfolio management responsibilities for the unit trust funds. So essentially, it is business as usual for investors in the DWM unit trust funds.

According to Walton, this demonstrates the benefit of having a secure and stable white labelling arrangement with a known and respected brand such as Metropolitan, as it can protect investors during trying times.

MetCI was incorporated in 1991 and the company's core business is the management and administration of collective investments on behalf of retail and institutional investors. Today MetCl is SA's leader in 'white labelling', having grown the number of funds from 18 in 2003 to 165 currently and total assets under management exceed R26 billion. The company ensures that all funds on their administration platforms adhere to the strictest corporate governance standards and are in compliance with all Collective Investment Scheme Control Act regulations. MetCI is a licensed financial services provider.

DWM has an urgent court hearing scheduled for Tuesday next week to obtain an interdict to have the FSB's decision reversed, and if successful, portfolio management for these portfolios will revert to DWM.

Quick Polls


In navigating the dynamic landscape of financial intermediaries in 2024, which strategy do you believe is most crucial for success?


Prioritising client needs
Embracing technological advancements
Staying abreast of regulatory developments
All of the above
fanews magazine
FAnews February 2024 Get the latest issue of FAnews

This month's headlines

On the insurance industry’s radar in 2024
Insurers, risk managers unsure of AI’s judgement credentials
Is offshore the place to be in 2024?
Gap claims: erosion of medical benefits, soaring specialist fees
Investments and retirement… is conventional wisdom under threat?
Subscribe now