$50m institutional mandate for SMI
Boutique fixed-income fund manager, Smarter Money Investments (SMI) announced this week it had been awarded a $50 million institutional mandate.
The company's chief executive, Darren Harvey said the mandate had been awarded with respect to its active cash fund.
The announcement said that fund had returned 4.1 per cent after fees over the 12 months to 28 February 2015, this year.
Harvey said it was this performance which had won the institutional mandate which finalised on 17 March and would be split equally across Smarter Money Active Cash and the new Smarter Money Higher Income Fund.
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