Cbus mandate sets IFM milestone
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.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
