Industry Funds Management reports solid growth
Industry funds-backed funds manager, Industry Funds Management announced this week it had grown funds under management (FUM) by 34 per cent to $46 billion over the past year — more than double the asset growth of the Australian superannuation market.
The fund manager announced its 12-month highlights this week, including its exposure to infrastructure equity via number of new transactions.
The company said strong investment returns and increased benefits of scale had been features of the last financial year.
IFM chief executive, Brett Himbury said its successful investment performance was the result of support from a loyal, aligned investor base and a pure focus on asset management.
"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."
"A key feature of the past year has been our strong returns, which have led to increased global support for IFM, which in turn has enhanced our capacity to provide scale benefits to our investors," he said.
"It's a virtuous circle that we expect will accelerate in the years ahead."
HImbury said that in the past year, IFM deployed over $3 billion in infrastructure equity through two transactions - Manchester Airport Group and Ports Botany and Kembla while also increasing its stakes in Melbourne and Northern Territory airports.
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