Fund manager invests in Ignition Wealth
Robo-advice provider, Ignition Wealth, has secured investment from fund manager, Millinium Capital Managers Limited, which is the responsible entity of the Millinium Alternatives Fund.
The investment was in line with the fund's mandate to invest in high growth opportunities, according to the fund manager.
It added that demand for a low cost, easy-to-use solution that also fulfilled best interest legislation would spike.
Millinium Capital Managers managing director, Tom Wallace, said: "Globally, digital financial advice services are demonstrating rapid growth.
We believe that Ignition Wealth delivers the best in class offering for the Australian market and provides the best opportunity for growth".
The latest investment in Ignition Wealth came after the firm announced a significant investment from Class and Countplus chairman, Barry Lambert, and a partnership with global fund administrator, Link Digital Solutions. Ignition Wealth chief executive, Mark Fordree, welcomed the investment by the Millinium Alternatives Fund, saying it was crucial to match capital resources with market opportunities.
AUTHOR
Malavika Santhebennur
Recommended for you
BlackRock has taken a $25 million stake in Generation Development Group as the two firms announce a strategic alliance to design and distribute tailored retirement solutions.
The global asset manager is launching its second alternatives fund for Australian wealth clients, focusing on private equity investment opportunities.
Trading platform Selfwealth has officially delisted from the ASX, marking the final step of Svava’s acquisition plans as it implements a scheme of arrangement.
US alternative credit manager Apollo Global Management is viewing Australia as a “priority market”, as it launches a fund for Australian wholesale investors with Channel Capital.
