RARE wins $200m mandate from CFS
Thursday, 28 January 2010 12:05pm
RARE Infrastructure has won a $200 million global listed infrastructure mandate from Colonial First State.
Matthew Dell, head of retail distribution at RARE Infrastructure, said the $200 million mandate was awarded following CFS' review of their global listed infrastructure fund, which is part of their multi-manager suite of products.
"This is our first mandate with Colonial First State," said Dell. "This marks the start of what's hopefully going to be a long term relationship with [CFS]."
RARE has been in talks with CFS since April 2008, said Dell.
While many local and international fund managers floundered during the GFC, RARE managed to nearly double its funds under management from $834 million at the end of 2008 to $1.53 billion at the end of last year.
But the fund manager is not stopping its growth anytime soon, and is already in talks with institutional investors both in Australia and overseas to continue its mandate wins throughout the year.
"I expect we might be at $2 billion in the next few months... [through a combination of] local and international mandates in the pipeline," said Dell.
Ruth Liew
This story was found at: http://www.financialstandard.com.au/news/view/27908
Printed: Wednesday, 8 September 2010 7:05am