Northward Capital gains institutional mandate
Specialist Australian equities manager, Northward Capital has picked up a key institutional mandate.
The company announced this week that the Northward Equity Income Fund strategy has been awarded an institutional mandate by not for profit investment fund, Uniting Financial Services (UFS).
Confirming the mandate, Northward Capital Portfolio Manager, John Moore said UFS was looking for an investment that delivered a reliable source of income less susceptible to market movements than a typical Australian share portfolio.
"We fulfil the criteria as we have delivered 8-10 per cent a year income since the fund's inception in March 2011," he said.
UFS executive director, Neil King said the fund had recently reviewed its asset allocation and that the mandate formed a part of a reallocation within its growth portfolio.
"Northward's Equity Income Fund offers UFS the opportunity to gain equity market exposure, with lower volatility whilst adhering to the Ethical Principles of The Uniting Church (NSW/ACT) Synod," he said.
Recommended for you
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
There has been a 16.3 per cent rise in the wealth of Australian billionaires this year to over $200 billion, UBS finds, as Australian advisers shift their offerings to meet this expansion and service their unique needs.
AZ NGA is looking to triple in size over the next five years as US investment giant Oaktree completes its $240 million investment in the professional services company.
