Australia’s Industry Funds Management (IFM) is planning to set up a sales distribution office in Asia later this year, according to Financial Standard.
The move is part of the company’s strategy to raise capital from the region’s large pension funds.
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An assessment would be made by the IFM’s leadership team and board in July, and if approved the set up of the office could be done ‘pretty easily’, IFM chief executive Brett Himbury told Financial Standard.
Himbury said that the office would be solely focused on business development and they have no immediate plans to open an investment office in Asia.
"You can get better risk adjusted returns in the US, Europe and Australia and frankly, Latin America, than you can in Asia," he was quoted as saying by the publication.
IFM will not deal with retail or high net worth clients. It intends to deal only with long tern institutional investors.
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By GlobalDataIFM, which is owned by 32 industry superannuation funds, has clients and teams in the three of the largest pension markets in the world. As at March 2013 it had $44 billion in FUM.
