Income Asset Management Obtains Mandate
The ASX-listed investment group will oversee $160 million in bond holdings for a nonprofit.
Income Asset Management (IAM) said the tender was awarded following a competitive bidding process, with the anonymous NFP joining more than 45 other organizations currently working with IAM.
IAM sees the NFP sector as a significant opportunity for the future, with many fixed income assets currently self-managed.
The mandate brings IAM’s total assets under administration to more than $1.8 billion and increases its capital markets assets under management by 24%, which now exceed $800 million.
“We are delighted to have successfully completed this tender process, which builds on IAM’s strong momentum for new contracts and growth,” said IAM Chief Executive John Lechte.
“The investments we have made in the business allow us to offer investors and portfolio managers the most reliable and efficient platform to research, execute and manage their fixed income investments.”
As interest rates rise and demand for fixed income solutions as portfolio hedging grows, IAM’s focus on the debt market positions the company well, he added.