IFM post super performance
Industry Funds Management (IFM) has banked $5 billion for its underlying members over the past financial year.
It said strong investment performance and increasing benefits of scale were factors in the 34 per cent growth in funds under management it achieved, from $34 billion to $46 billion, in the last 12 months.
Strong returns had led to increased global support for IFM and increased its economies of scale, according to IFM chief executive, Brett Himbury
““It’s a virtuous circle that we expect will accelerate in the years ahead,” he said.
While IFM fundraised $6.9 billion, it managed to grow offshore fundraising from zero to almost $2 billion in North America and Europe over the year.
Its investments included two infrastructure transactions, for Manchester Airport Group and Ports Botany and Kembla, which totalled over $3 billion. IFM’s Australian Infrastructure Fund returned 12 per cent over the past 18 years, outperforming the Australian stock market by 3 per cent over the same period.
It saw inflows of $3.2 billion into debt investments had outperformed over all time horizons, IFM said - its Alternative Fixed Income Fund outperformed its benchmark by 6.3 per cent.
“In volatile global markets, many of our investors have achieved strong outcomes for their members and I am pleased that IFM has made a significant contribution to this success,” Himbury said.
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