Industry fund-owned IFM Investors now manages $107 billion on behalf of its investors, up 15 per cent on the prior year.
IFM Investors, which is owned by 27 Australian industry funds, has grown its funds under management from $93.04 billion at 30 June 2017 to $107 billion at 30 June 2018.
The fund manager runs infrastructure, debt, listed equities and private equities for its 312 institutional investor clients worldwide including its industry fund owners.
IFM Investors recorded net flows of $12.9 billion for the 12 months to 30 June 2018 (excluding cash).
The fund manager also grew its pre-tax profit margin to 25 per cent, which was “deliberately” kept below its peers given IFM Investors exists to service its not-for-profit owners.
Eighty-nine per cent of the products and mandates run by IFM Investors "met or outperformed" client objectives on a rolling five-year basis after fees and taxes.
IFM Investors chief executive Brett Himbury said: "Our ownership model liberates our global team to focus on investors, which in turn has driven strong outcomes for shareholders and all stakeholders."
"We now have a strong, resilient global business that is exceptionally resourced to invest further in capabilities and add even more to our investors’ returns," Mr Himbury said.
"We foresee an environment where investment skill, value for money and alignment will be in greater demand with IFM Investors’ ownership model, culture and team well-equipped to support institutional investors and get their fees down and net returns up."
Westpac has made changes to its wealth management and leadership, with it expecting to save around $73 million. ...
Property investors will be weighing up their options as prices continue to slide in the nation’s largest capital cities. ...
Future IM/Pact has signed on two new partners in an effort to attract more diverse talent into investment management. ...