Industry Funds Management (IFM) has been awarded a A$300 million cash mandate by leading industry superannuation fund, Cbus, bringing IFM’s total cash funds under management to A$10 billion.
Scott Barker, Investment Director of IFM’s Debt Investments Team, said the growth in cash funds under management was a significant achievement, and came on the back of support from a number of long-term investors.
“We are pleased that our investors recognise and value our abilities and track record in cash investment management,” he said.
“Our team is highly experienced and we have a track record of long-term outperformance. We believe that cash should be simple for our investors; our job is to manage the complexities and nuances and remain true to label. We are proud of our steady, consistent cash returns and are pleased that this is being recognised by a growing number of investors.”
Cbus Executive Manager - Investment Strategy Kristian Fok said awarding the cash mandate to IFM made obvious sense.
“IFM is a proven debt specialist and they have an extensive record to prove it,” he said.
“At Cbus, we were attracted to the manner in which IFM runs a disciplined cash process with strong risk controls.
“As one of the nation’s leading industry super funds, we need to have confidence in the manager looking after our cash investments and ensure we are getting the best value for our members.
IFM’s competitive fee structure and record of outperformance was highly attractive to us.”