IFM FUM models super decline
If the companies it researched reported like IFM Investors, the dinky di global fund manager of the same name would go nowhere holding a scrap of its debt or equity.A meagre media release and a claim that it "delivered a record set of results for the year ended June 2018," is the beginnings of an IFM profit report short on detail released yesterday."IFM Investors independently valued at A$869.5 million, representing an increase of 20.2% p.a. over 5 years," is one milestone reported by the company."Funds Under Management of $107 billion, an increase of 15 per cent on the prior year," is a second detail, though that growth rate is faltering, now more like seven per cent annualised over the year. Across Australia, the growth rate in superannuation savings has also halved to less than 10 per cent.IFM has 312 institutional investors in 19 countries and A$12.9 billion of net flows for the twelve months globally (excluding cash), it said."We have a resilient global business that is resourced to invest further incapabilities and add even more to our investors' returns," Brett Himbury, chief executive IFM Investors wrote in the media release.Himbury said IFM likes Japan and South Korea but that China and its belt and road project was "something we are monitoring." Most of its investments - often in unlisted infrastructure - are or will be in the OECD he said.There's been not much contact from the financial services royal commission, Himbury told a media call.