IFM attracts new mandates

Cbus has awarded Industry Funds Management (IFM) a A$300 million cash mandate taking IFM's total cash funds under management to $10 billion.

IFM investment director Scott Barker said the mandate was recognition of the group's abilities and track record in cash investment management.

"We believe that cash should be simple for our investors; our job is to manage the complexities and nuances and remain true to label," he said.

"We are proud of our steady, consistent cash returns and are pleased that this is being recognised by a growing number of investors."

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Cbus executive manager, investment strategy, Kristian Fok said the mandate made sense given IFM's standing as a proven debt specialist.

"At Cbus, we were attracted to the manner in which IFM runs a disciplined cash process with strong risk controls," he said.

"As one of the nation's leading industry super funds, we need to have confidence in the manager looking after our cash investments and ensure we are getting the best value for our members. IFM's competitive fee structure and record of outperformance was highly attractive to us."

Club Plus Super chief executive Paul Cahill told Super Review last week that the fund had upped its investment in IFM, investing an additional $20 million into its domestic infrastructure fund and committing another $20 million to international infrastructure.