POWERED BY MOMENTUM MEDIA
HESTA delivers for IFM Investor strategy
Industry funds-backed IFM Investors has broken ground on support for its recently-launched global index strategy.
The fund manager announced today that it had received its first mandate for the strategy with $500 million received in-specie from HESTA.
The global indexed equity strategy is the result of extensive collaboration between IFM Investors and its Australian clients, and chief executive Brett Himbury said the new mandate with HESTA is a significant milestone for IFM Investors.
"In a competitive landscape, the launch of a robust, cost-effective global indexed equity strategy demonstrates our clients' willingness to engage with IFM Investors in product development," he said.
Commenting on the mandate, HESTA chief investment officer, Rob Fowler said Australian superannuation funds increasingly required access to bespoke global equity capabilities.
"We believe IFM Investors' long-term focus will continue to benefit our members," he said.
Recommended for you
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
