SMF bags $14 million mandate
SMF Funds Management has won a $14 million mandate from one of the largest Victorian-based health superannuation funds.
The mandate, from GMHBA, will cover bonds, Australian and international equities and indirect property investments. The superannuation fund will continue to manage cash and its direct property portfolio internally.
The GMHBA has 54,800 members in Victoria and Western Australia. Its assets total about $44 million.
SMF managing director Christopher Kelaher says winning this latest mandate was due to the strong investment performance that the company achieved last year.
"This appointment recognises our strong manage-the-manager selection skills," Kelaher says.
"We've either led or been at the top in several investment classes last year, with strongest performance in fixed income, property and our diversified fund."
This is the second Victorian outsourcing win achieved in SMF in recent months. Last year it won the outsourcing mandate of Bendigo Bank's superannuation fund.
SMF now has $1.1 billion under management from more than 70,000 investors and 3000 corporate clients.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
