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 launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
