MIPS is the professional fixed income management business unit within FIIG Securities that is available to clients who qualify as ‘wholesale’ and have a minimum of $250k of capital to invest.
- MIPS clients each own a stand-alone individually managed portfolio (IMP) managed by the MIPS Portfolio Management Team (PMT) in accordance with the MIPS Program selected by the client.
- All investment decisions for the IMP are made by the PMT in accordance with the selected program’s remit.
- The service currently offers three unique investment programs, designed to appeal to a broad range of investor appetites, and a fourth opportunity of customisation of investment mandates for investment in excess of $5m.
- All programs only invest in Australian Dollar denominated bonds and contain no derivative exposure.
- MIPS has been in operation since October 2015 and has delivered a performance record of merit.
The Managed Income Portfolio Service (MIPS) as an investment manager, is independent of FIIG Securities but MIPS clients benefit from the product design advantages and infrastructure that FIIG Securities provides.
The service combines a number of unique attributes built by FIIG Securities to ultimately deliver clients professional management of a stand-alone (IMP) account that contains a highly diversified portfolio of assets that are directly owned, the income from which can be either distributed or re-invested, as instructed by the investor.
FIIG’s unique attributes include:
- Secondary market access to volumes less than $500k face value ownership (as low as 10k) via FIIG’s ‘Direct Bond’ Service.
- Primary market access to high yield assets via FIIG’s Debt Capital Markets (DCM) Origination Service and guaranteed allocation without obligation to commit.
- Access to both external and in-house (FIIG Securities) research.
- Liquidity for investment grade assets via the interbank market.
- Liquidity for non-investment grade product via FIIG Securities distribution platform.
The MIPS Portfolio Management Team (PMT) are very experienced and seasoned fixed income market professionals.
- Kieran Quaine is the Head of MIPS and is the Senior Portfolio Manager. He has over 30 years’ of extensive experience within the fixed income market, primarily as fund manager in charge of investing multiple billions of dollars across a wide range of investment mandates.
- Megan Romeo is the Assistant Portfolio Manager. She has over 8 years’ experience in the financial markets, primarily, prior to the current role, as the Valuations Product Manager at S&P Capital IQ.
Refer to our website for an in-depth profile on our full team, including that of our Head of Distribution and our Product Manager.
MIPS provides you 24/7 read only access to the portfolio - its composition, transaction history and daily valuation via the MyFIIG online portal.
In addition, as a client of our Managed Income Portfolio Service, you will receive a quarterly report outlining the investment manager’s future strategy and a commentary on recent economic events including drivers of current performance.
An IMP, or Individually Managed Portfolio, is a stand-alone vehicle in which a singular clients assets reside.
- Those assets within the IMP are still held in safe custody with FIIG as the custodian and JP Morgan as the sub-custodian.
- Assets within a client’s IMP are segregated from any and all other investor holdings, including the assets owned by FIIG Securities.
Conversely, within a trust structure, assets are pooled or aggregated, and investors own units in the trust. Their entitlement to ownership is not ‘direct’ but a share of the pool.