FIIG achieves milestone

funds management fiig fixed income

6 July 2016
| By Staff |
image
image
expand image

Specialist fixed income player, FIIG has claimed a milestone.

The company announced this week that Australia's first of its type managed portfolio service for bonds had exceeded $100 million in investments, supported by a range of individual, institutional and not-for-profits.

FIIG said it had launched the Managed Income Portfolio Service (MIPS) in mid-2015 as a way for investors to retain direct ownership of their bond portfolio and either receive fixed income or reinvest it while delegating the portfolio's day-to-day management.

It said that since launching, more than 50 investors with an average investment of around $1.75 million had utilised MIPS with total investments passing $100 million last week, with the most popular being the ‘Income Plus' program.

Commenting on the milestone, FIIG head of institutional markets, John Cummins, said the service provided clients with direct access to a well-diversified portfolio of direct bonds combined with professional management and oversight.

FIIG developed four different investment programs for MIPS, from which investors can select depending on their requirements for return and tolerance for risk, with the minimum investment starting at $250,000. Customised programs are available for larger investors ($5 million+).

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 4 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 2 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 13 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

4 days 17 hours ago