MIR moves into IMAs
Specialist trading firm Tricom Equities had struck a deal with Australia’s most talked about fund manager, MIR Investment Management, to provide it with model portfolios for its Individually Managed Account (IMA) service.
The IMA service is to be sold through financial planners and will offer investors access to an Australian equities and a long/short absolute return portfolio.
Diversified balanced and conservative income funds may be added in the near future, Tricom product manager Graham Parkes said.
The minimum investment in the MIR-backed IMA service is $500,000 with a management expense ratio of 1 per cent.
This year MIR, which is headed up by ex-Lazard Asia Pacific founder Michael Triguboff, took out Money Management’s Fund Manager of the Year awards for Australian Equities and Rising Star.
“With MIR at the helm you’ve got … excellent historical returns, and a high quality, robust investment process to back it all up. In managed accounts it doesn’t got much better than that,” Parkes said.
Triguboff was unavailable for comment this morning.
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.
