Northward Capital gains institutional mandate
Specialist Australian equities manager, Northward Capital has picked up a key institutional mandate.
The company announced this week that the Northward Equity Income Fund strategy has been awarded an institutional mandate by not for profit investment fund, Uniting Financial Services (UFS).
Confirming the mandate, Northward Capital Portfolio Manager, John Moore said UFS was looking for an investment that delivered a reliable source of income less susceptible to market movements than a typical Australian share portfolio.
"We fulfil the criteria as we have delivered 8-10 per cent a year income since the fund's inception in March 2011," he said.
UFS executive director, Neil King said the fund had recently reviewed its asset allocation and that the mandate formed a part of a reallocation within its growth portfolio.
"Northward's Equity Income Fund offers UFS the opportunity to gain equity market exposure, with lower volatility whilst adhering to the Ethical Principles of The Uniting Church (NSW/ACT) Synod," he said.
AUTHOR
Staff Writer
Recommended for you
Financial services lawyers believe the government may have good intentions, but the proposed legislation leaves superannuation trustees targeting an unachievable “standard of perfection” when it comes to advice deductions.
Advisers could find themselves unable to receive the fair market price of their advice as the Delivering Better Financial Outcomes legislation states superannuation trustees can reject deductions that are not charged on a cost basis.
Two advice professionals have shared five key takeaways as to how advisers can strengthen their communication with clients, especially at review time, in order to build deeper relationships.
The Financial Services Council has launched the Digital Advice Expert Group to support policy development around digital advice adoption and ensure greater accessibility for Australians.
