Fixed-income manager YBR Funds Management has been renamed as Smarter Money Investments Pty Ltd (SMI) following strong wholesale demand for SMI’s products.
Additionally, the firm has listed its Smarter Money Active Cash Fund on the ASX’s mFund platform that focuses on Australian floating-rate notes.
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The Smarter Money Active Cash Fund was initially launched in February and has approximately $155 million under management.
Matt Lawler, CEO of YBR, said: "SMI is an independent business that is emerging as the cash and fixed-income supplier of choice for many independent financial advisers, institutions and HNW’s. We are also now seeing a number of corporations use the fund as a mid-term treasury solution."
Moreover, the firm is also planning to launch its second fixed-income fund on the back of client demand.
Dubbed as Smarter Money Higher Income Fund, the fund was launched in August with $17 million in seed capital.
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By GlobalDataDarren Harvey, a director and portfolio manager at SMI, said: "This is a natural evolution for us given that over 60 per cent of the money flowing into our funds has been wholesale."
"An existing institutional investor in the Smarter Money Active Cash Fund recently asked the SMI team whether we could create a new option that focused more on Australian floating-rate notes with consequently lower allocations to cash," Harvey added.
