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Be the first with the news that moves the market- Income Asset Management Group (IAM) is awarded a mandate to provide execution services for $160 million in bonds held by a large not-for-profit (NFP) organisation
- The mandate increases the company’s company capital markets assets under administration by 24 per cent to over $800 million
- This takes the company’s total assets administered to over $1.8 billion
- The company has a long history of working with NFP organisations, currently administering assets for over 45 organisations
- IAM shares are up 20 per cent, trading at 18 cents as of 11:14 am AEST
Income Asset Management Group (IAM) has landed a mandate to provide execution services for $160 million in bonds held by a large not-for-profit (NFP) organisation.
The mandate increases the company’s company capital markets assets under administration by 24 per cent to over $800 million, which takes its total assets administered to over $1.8 billion.
CEO Jon Lechte said receiving the mandate builds on the company’s “strong momentum in new business wins and growing scale”.
“The investments we have been making in the business are enabling us to offer investors and portfolio managers the most trustworthy and capable platform to research, execute, and manage their fixed income investments,” Mr Lechte said.
“IAM believes the not-for profit sector represents a significant opportunity for IAM going forward.”
Revenue will be derived from the execution service for the bond holdings and cash, with the potential for assets and revenue to grow over time through further growth in the bond holdings.
The company has a long history of working with NFP organisations, currently administering assets for over 45 organisations.
IAM shares were up 20 per cent, trading at 18 cents as of 11:14 am AEST.
