FIIG achieves milestone
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+).
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