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Funds SA choose Investors Mutual
Investors Mutual (IML) has won a large cap Australian equities mandate from government owned superannuation funds manager, Funds SA.
It was awarded after a request for proposal saw IML secure the $430 million mandate.
Investment manager for Funds SA Mark Coleman said they chose the equity manager due to the experience of its investment team, its proprietary research and stock selection processes, and the diversification benefits it brings to the Funds SA Australian equities portfolio.
IML's head of research Hugh Giddy said the investment team choses high quality companies that represent value in the current economic environment.
"While the Australian share market remains challenging, our investment team continues to work hard in researching companies that are of high quality and that we believe represent value for our clients in today's environment," he said.
The mandate takes IML's funds under management to over $3 billion and comes shortly after the firm won a mandate from Russell Investments to fund several hundred million across a number of Russell's portfolios in June.
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