Coal industry fund, Mine Wealth + Wellbeing has awarded what represents the inaugural mandate for IMF Investor's Australian core equities strategy.
IFM Investors described the mandate as "substantial" and said that it followed on from the firm having expanded its Active Equities team this year with the recruitment of nine Large Cap investment professionals (eight in Sydney and one in Hong Kong).
It said the head of active equities, Neil Carter had been joined by Lachlan Davis as head of large cap active equities, and Mark McClatchey as head of research.
The team had established three key products — Australian core equities, Australian equities extended alpha and the Asia-Pacific market neutral fund.
Commenting on the mandate, Carter said the new products significantly increased the IFM Investors offering.
"The team uses a ‘Smart Quant' investment approach, which combines the power and breadth of a quantitative approach with the judgment and skills of fundamental analysis, and the team has proven itself over the past 15 years in the Australian market," he said.