The joint venture was founded in 2014 and brings together two experienced hospitality executives, Edward Mace and Charles Peck, with the institutional fund management
platforms and expertise of Mariner Real Estate Management and Global Endowment.
In the typical approach to institutional fund management
, the fund administrator outsources the investment functions to external money managers.
A study by Deloitte shows that for big corporate finance and institutional fund management
companies, complying with the FSA's regulation accounts for a very small part of their overall costs and is not seen as a competitive disadvantage.
The group's new institutional fund management
operation had a record quarter, increasing new business by 93% to pounds 5.4bn.
The outstanding success was the institutional fund management
wing, which had a record quarter, attracting pounds 5.4 billion of new money -pounds 1.3 billion of it for active bond management -after pounds 2.8 billion last year.
'Our institutional fund management
business has maintained its impressive momentum, again averaging over pounds 1bn of new funds each month during the year.
The group said its institutional fund management
operation in North America had lost business although it had cut outflows from its UK institutional arm.
WMS is selling the package so that it can concentrate on its core technology LISA, which addresses the retail institutional fund management
, pensions and asset management needs of the personal finance sector.
"Our institutional fund management
company continued to average pounds 1bn new business per month and has done so since January 1998.
"Institutional fund management
business has again delivered impressive results, winning pounds 13bn of new funds, taking funds under management to over pounds 117bn, " he said.
"New institutional fund management
business reached a record level at pounds 13.2bn, a remarkable achievement.