Investors Mutual given strong rating by Assirt
Investors Mutual(IML) is moving from “strength to strength” according to the latest rating of the boutique fund manager byAssirt.
In the review, the research house’s assessment of IML’s investment management capability in managing Australian equities was increased from “strong” to “very strong”.
The business management and operating capability of IML also continued to be rated as “strong”.
Assirt says IML’s investment process follows a disciplined and logical approach and that refinements have occurred since its last review at the stock research and portfolio construction level.
The research house also says that since its last review, the boutique manager has provided a clearer definition in the roles and responsibilities of sales and marketing staff and has improved its support for financial planners.
The key person risk inherent in the boutique manager’s employment of only six investment professionals is negated by the fact that key personnel are generally major shareholders in the business, according to Assirt.
The research house says IML funds under management (FUM) targets have been comfortably exceeded and the development of two new products and the closure of the $300 million FUM small cap fund were in line with business objectives.
Assirt says the next challenge for IML will be to sustain current growth over the next few years by a focus on servicing the existing client base.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
