Australian investment manager, IPO Wealth, said it has passed the $75 million mark in capital raised for its IPO Wealth Fund.
IPO Wealth, which started in March 2017, is a wholly-owned subsidiary of international investment group Mayfair 101. More than $60 million has flowed into the fund in 2018 as investors seek income-producing cash alternatives amid Australian stock and property market volatility.
Investors are finding the non-bank alternative an attractive option due to its exposure to Mayfair 101’s portfolio of growth companies internationally, and the ability to earn rates of return that have consistently outperformed term deposits since inception.
Mayfair 101 Managing Director James Mawhinney said: “Wholesale and sophisticated investors are becoming increasingly aware that new options are available to decrease their exposure to the Australian property market and volatility of the ASX. IPO Wealth is one of those options, and we are delighted to be able to provide investors with the opportunity to earn consistent monthly returns.”
Mr Mawhinney said the international investment group’s strategy provided Australian investors with the opportunity to benefit from cost efficiencies associated with technology platforms, lower corporate overheads compared to many of its competitors, and a diversified international focus which provides a greater pool of solid investment opportunities.
Mayfair 101 recently announced plans to establish an equivalent fund in the UK managed by M12 Global, allowing the group to access a larger pool of capital at a lower cost base due to the low interest environment of the UK and Europe.
M12 Global has appointed former Morgan Stanley executive Charles Grant as its Chief Executive Officer to head up the European structure, building on the success of IPO Wealth.