Income Asset Management Group (ASX: IAM) has been given a $ 160 million mandate for NFP – The Market Herald

• Income Asset Management Group (IAM) has been mandated to provide $ 160 million in bond execution services to a major nonprofit organization (NFP).
• The mandate increases the company’s assets in the capital markets under management by 24 percent to more than $ 800 million
• That’s more than $ 1.8 billion
• The company has a long history of working with NFP organizations, currently managing assets for more than 45 organizations
• Shares of IAM rose 20 percent and traded 18 cents as of 11:14 a.m. AEST

Income Asset Management Group (IAM) has been mandated to provide $ 160 million in bond execution services to a major nonprofit organization (NFP).

The mandate increases the company’s assets in the capital markets under its administration by 24 percent to more than $ 800 million, bringing the total assets under management to more than $ 1.8 billion.

CEO John Lechte said the mandate was based on “the company’s strong momentum in new business victories and growing scale”.

“The investments we make in business allow us to offer investors and portfolio managers the most reliable and capable platform to research, execute and manage their fixed income investments,” Mr. Lechte said.

“IAM believes that the nonprofit sector represents a significant opportunity for the further development of IAM.”

Income will come from bond and cash execution services, with the potential to grow assets and income over time through further bond growth.

The company has a long history of working with NFP organizations, currently managing assets for more than 45 organizations.

Shares of IAM rose 20 percent and traded 18 cents as of 11:14 a.m. AEST.