TAM has been busy in recent years as the market around it evolves. It jumped on the strategic-beta exchange-traded fund bandwagon in 2019 with its five-fund DeltaShares suite but liquidated those ETFs in 2022 after they failed to gain traction and the firm determined to stick only with its long-standing actively managed proposition. More recently in mid-2024, it launched roughly a dozen collective investment trusts, which are quickly becoming the preferred vehicle for retirement plans, mostly because they are cheaper than mutual funds.
TAM has reduced fees on several of its mutual funds, which has kept them largely in line with actively managed peers, many of which have also responded to fee pressure from investors’ general preference for passively managed strategies.
Meanwhile, regular blocking and tackling for firms that use a subadvisor model, as TAM does, has also occurred, including a handful of subadvisor changes. While these include one reassignment to sister company and its fixed-income favorite Aegon Asset Management—both are owned by Dutch life insurer Aegon—TAM has previously replaced the affiliated entity, which speaks to its independence. More generally, TAM has maintained long-term relationships with both industry powerhouses and lesser-known boutiques, and manager retention is in line with peers. While the firm has had a noticeable past record of launching and later merging or closing funds, the firm says it has enhanced its product development process over the past two years.
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