The growth of Clime Investment Management is a story of expansion and diversification. The firm has been actively working on a range of initiatives to boost its reach in both the wholesale and retail markets.
- Increased FUMA by 3% over the quarter
- Obtained a $137 million fund mandate
- Expanded product offerings in wealth management
- Appointed new fund managers to create an unlisted asset management team
- Introduced new investment options
Clime Investment Management has reported a 3% increase in total funds under management and advice (FUMA) over the quarter to 31 March. This growth was driven by the acquisition of a $137 million fund mandate, which helped to offset losses from the loss of a $38 million separately managed account (SMA) mandate, pension payments, and adverse market movement. The firm has been actively developing initiatives within its funds management and wealth management divisions. On the wealth management side, Clime has commenced operations of a managed discretionary account (MDA) service in partnership with Philo Capital Advisers and platform Netwealth. This new service will improve the flexibility and service of its offerings for Clime Private Wealth clients. A heads of agreement has also been signed with NSW advisory and accountancy firm, Arcus Capital Advisory, to manage a bespoke wholesale investment offering. This offering is expected to manage $50 million initially. On the asset management side, Clime has appointed three new fund managers to create an unlisted asset management team. This team will enable the firm to expand its product design capability and capture $240 million of investor capital placed with other managers.
news is a contributor at FondBank. We are committed to providing well-researched, accurate, and valuable content to our readers.
