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
AZ NGA has partnered with an Adelaide-based accounting and financial planning practice as it expands its presence in South Australia.
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
