Building industry fund Cbus has helped Industry Funds Management (IFM) pass a milestone — $10 billion in total cash funds under management.
IFM and Cbus announced this week that the super fund had awarded IFM a $300 million cash mandate.
Commenting on the passing of the milestone, IFM Debt Investments team director Scott Barker said the growth in cash funds under management was a significant achievement, and came on the back of support from a number of long-term investors.
Cbus executive manager – investment strategy, Kristian Fok, said awarding the cash mandate to IFM made obvious sense given the manager's proven ability as a debt specialist.
"We were attracted to the manner in which IFM runs a disciplined cash process with strong risk controls," he said.
