Managed Income Portfolio Services

FIIG’s Managed Income Portfolio Service (“MIPS”) provides wholesale fixed income investors with an Individually Managed Portfolio (IMP) platform, combined with professional portfolio management and direct and beneficial ownership of their securities.
 

The benefits of investing with MIPS

1.

IMP (Individually Managed Portfolios)
Customisation

A tailored investment mandate construction service to define exposure limitations to product, credit and duration, with capacity to accommodate ESG (Ethical and Social Governance) requirements. 

2.

Investment
Expertise 

The MIPS Portfolio Management team are experts focused entirely on creating value for investors. 

3.

Return, Risk
and Liquidity 

Selection from the universe of qualifying assets, consistent with the Investment Mandate, to deliver the highest returns possible given risk tolerance and liquidity requirements.

4.

Portfolio
Diversification

Significant advantages delivered through FIIG’s DirectBond service, enabling sub $500k parcel size investments across both the Investment and Non-Investment Grade sectors.

How MIPS Works

MIPS offers a choice of four investment programs to suit a range of investment goals for wholesale investors with up to $5M to invest.  For investment amounts over $5 million, clients have the flexibility to create their own Investment Mandate with the assistance of the MIPS Portfolio Management Team.

Clients eligible to customise can specifically define the portfolio exposure boundaries, including capital structure, product type, issuer industry, credit quality, maturity and duration, with the additional capacity to accommodate any Ethical and Social Governance (ESG) requirements. The unprecedented level of customization opportunity enables investors ‘dial up or down’ both risk and return criteria.

Having either customized or chosen an existing MIPS Investment Program the MIPS Portfolio Management Team will invest your funds in Fixed Income investments in compliance with the selected program.  For the duration of the investment the team will rebalance the portfolio holdings in response to changes in markets and the presentation of investment opportunities. 

FIIG will provide reporting on your holding, performance and transactions to keep you informed and facilitate your internal reporting. Customised clients have direct access to the MIPS Portfolio Management Team to discuss the portfolio with the executive or board either on-site or within one of FIIG’s state offices.

Kieran Quaine - Portfolio Manager

MIPS offers wholesale investors the opportunity to earn meaningful improvements in returns and liquidity over Cash and Term Deposits through the direct ownership of a significantly diverse range of quality assets that include Australian Bank and Corporate Bonds

kieran-quaineKieran Quaine, Head of MIPS Portfolio Management

As a MIPS client, you receive:

  • Regular income payments (coupons) either reinvested or paid into your nominated account.
  • Client access to the MIPS Portfolio Management Team via quarterly economic and fixed income market commentary, and regular presentations in state offices.
  • The option to transfer approved assets ‘in-specie’ into your MIPS account.
  • Full transparency via a 24/7 secured web portal that details your portfolio valuation, performance, transactions, income, administration and custody in one place.
  • Monthly and annual statements of portfolio accounts.
  • Custodial services.
  • Compliance monitoring, supervisory oversight and independent audit by PWC.

 

Why invest with MIPS?

MIPS combines direct bond ownership with portfolio management.

  • Ability to customise portfolio from $5m: a unique proposition allowing you to tailor investments to meet your requirements, requirements including risk appetite, income targets, ratings restrictions, liquidity needs and Ethical, Social & Governance (ESG) overlays
  • Professional investment management: delegate day-to-day management to a team of professional fixed income managers who will use their market insights and indepth credit assessment to optimise return while preserving capital 
  • Direct ownership: your own custody account ensuring beneficial ownership and segregated investments. Your investments are unaffected by other investors decisions unlike a pooled investment in a fund
  • Transparency: view individual holdings, risk and cashflows 24/7 via secure website and monthly reporting providing return performance and current portfolio metrics
  • Governance and oversight: protection offered by the three layers of oversight of the MIPS portfolio management team (Portfolio Management Committee, majority independent Supervisory Committee and an external audit)
  • Certainty and access to income: amount and timing of income is generally known and you can opt to reinvest coupons or have them paid out

FIIG's Managed Income Portfolio Service

About FIIG’s Managed Income Portfolio Service

Meet your Portfolio Manager

Customised Investment Programs

For investments of $5m+, MIPS offers the ability to create bespoke Individually Managed Portfolios (IMPs) that provide diversified exposure to all of the issuers of Australian Bonds in accordance with client requirements.

For a complete list of the Investment Programs we offer please refer to the MIPS fact-sheet and the Information Memorandum

  • Investment Grade Bank Bonds

    Earn higher yields and improve portfolio liquidity above alternate cash and Term Deposits through diversified exposure to investment grade rated floating rate notes issued by Australian Major and Minor Banks.

    Investment Grade Bank Bonds
  • Investment Grade Corporate Bonds

    Earn even higher yields through diversified exposure to investment grade rated fixed term bonds and floating rate notes issued by large Australian Corporates.

    Investment Grade Corporate Bonds
  • Non-Investment Grade (High Yield) Corporate Bonds

    Earn even higher yields through diversified exposure to investment grade rated fixed term bonds and floating rate notes issued by large Australian Corporates.

    Non-Investment Grade Corporate Bonds

The following example model portfolios provide successive steps in yield and changes in liquidity illustrate the exposure and return outcomes achievable under each example Australian Bank Bond FRN Portfolio Investment Mandate.

Australian Bank Bonds – Major bank senior only FRN portfolio       

3.04% Gross Yield to Maturity (YTM)

Australian Bank Bonds – Major and minor bank senior only FRN portfolio    

3.20% Gross Yield to Maturity (YTM)

Australian Bank Bonds – Major bank senior and subordinate FRN portfolio   

3.33% Gross Yield to Maturity (YTM)

Australian Bank Bonds – Major and minor bank senior and subordinate FRN portfolio   

3.69% Gross Yield to Maturity (YTM)

The following example model portfolios provide successive steps in yield and changes in liquidity illustrate the exposure and return outcomes achievable under each example Investment Grade Corporate Bond FRN Portfolio Investment Mandate.

Investment Grade - SENIOR Corporate Bond Portfolio

4.44% Gross Yield to Maturity (YTM)

Investment Grade - SUBORDINATED Corporate Bond (FRN) Portfolio

4.64% Gross Yield to Maturity (YTM)

The following example model portfolios provide successive steps in yield and changes in liquidity illustrate the exposure and return outcomes achievable under each example Non-Investment Grade Corporate Bond FRN Portfolio Investment Mandate.

Non-Investment Grade - SENIOR Corporate Bond Portfolio

5.81% Gross Yield to Maturity (YTM)

Non-Investment Grade - SUBORDINATED Corporate Bond Portfolio

6.24% Gross Yield to Maturity (YTM)

Let the experts manage your Fixed Income Portfolio

Download the MIPS fact-sheet

 

Other useful documents

Information Memorandum Download

Meet the MIPS team

Kieran Quaine - ‎Head of Managed Income Portfolio Services (MIPS)

Kieran Quaine
Head of MIPS Portfolio Management

Kieran has in excess of 30 years’ experience in senior roles in the fixed income market, primarily as a fund manager in charge of investing multiple billions of dollars across a wide range of investment mandates. His experience includes roles as a proprietary interest rate trader, debt originator, syndicator and institutional debt sales. Kieran has been with FIIG Securities for over 9 years, and is currently the Head of MIPS. Previous responsibilities include the primary sales of all FIIG Originations by the FIIG Debt Capital Markets team, FIIG Balance Sheet management and security pricing for all debt products and institutional sales.

Megan Romeo - Assistant Portfolio Manager, MIPS

Megan Romero
Assistant Portfolio Manager, MIPS

Megan Romeo has over 8 years’ experience in financial market data segment with a focus on the Asia Pacific Fixed Income markets. Prior to joining FIIG, Megan was the Valuations Product Manager at S&P Capital IQ which required local Fixed Income market knowledge and a technical understanding of the asset class in order to tailor a Fixed Income market data solution to participants across Asia Pacific. Megan has been with FIIG Securities for 3.5 years all of which within the Managed Income Portfolio Service.

Marcus Blake - Director - Distribution, Managed Portfolios

Marcus Blake
Director - Distribution, MIPS

0427 063 362

Marcus has 30 years of experience in senior sales roles in the Australian and international financial markets dealing with diverse client segments including financial institutions, private wealth and corporates across multiple asset classes in their liquid, structured and derivative forms. Prior to joining FIIG he spent several years in Singapore with Commerzbank AG most recently as Head of Corporate Sales, Asia. Previously, Marcus was Head of Rates and Credit Sales for BNP Paribas Australia and a Director Fixed Income at both Merrill Lynch and Macquarie Bank based in Sydney. Marcus has been with FIIG Securities for nearly 2 years and is responsible for distribution of FIIG’s Managed Fund Portfolio Service.

Nandita Alva - Product Manager – Managed Income Portfolio Services

Nandita Alva
Product Manager, MIPS

Nandita has recently joined FIIG as the MIPS Product Manager. Prior to that she spent her 10 year career at Deutsche Bank. During this time she worked as an Interest Rates Trader, an FX Forwards Trader and also managed flow risk on Deutsche's electronic Trading Platform. In her most recent role in the eCommerce Client Solutions space, she served as a Subject Matter Expert in Algorithmic Trading and encouraged the electronification of the Futures Trading business. She also trained staff across the AsiaPac region in the Agile Methodologies.

Phone Call us on  1800 01 01 82