Customised direct bond ownership professionally managed made simple
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FIIG’s Managed Income Portfolio Service (MIPS) provides wholesale investors day to day professional portfolio management, while retaining beneficial ownership of fixed income securities. MIPS offers four Investment Programs – Conservative Income, Core Income, Income Plus and Inflation-Linked tailored to your risk appetite and investment goals. You also have the option of a fully customised program for investment amounts of over $5million.
Regular and Timely Income
MIPS provides a regular income stream through interest payments and liquidity.
Direct Ownership
Retain beneficial ownership of the portfolio of fixed income securities held in your custody account or your name.
Managed Professionally
Receive full professional investment management, delegating the day-to-day running of your portfolio of fixed income securities to the experts.
FIIG Expertise
At FIIG we concentrate on just one financial discipline – fixed income products. That’s how we’ve earned our reputation for being the experts.
How MIPS Works
How MIPS Works
For investment amounts greater than $5 million, you have the flexibility under MIPS to tailor a fixed income portfolio based on your key investment objectives. You can elect to customise your fixed income investment portfolio based on a number of different criteria.
The Customised Investment Program provides a fixed income product that has unprecedented levels of customisation. The Program uses defined investment mandate criteria, allowing you to instruct FIIG to ‘dial up’ or ‘dial down’ these criteria based on your fixed income asset class investment objectives.
- Ability to be more specific on defining your credit rating limits (e.g. investment grade only)
- Ability to be more specific on defining your capital structure limits
- Ability to reflect ethical, social and governance positions of investor
- Inflation targeting and/or protection
- Debt product restrictions – e.g. limits on amount of asset backed securities
- Listed security limits
- Sector/Industry concentration limits
- Specific mandate restrictions
Why FIIG's MIPS?
- 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
- Institutional market access: access to the wholesale markets at cost, opening up the $A bond market worth approx. $1 trillion
- Simple and transparent fee structure
MIPS Programs
Minimum investment amounts
The minimum investment amount for MIPS is $250,000 for each Investment Program, or $5 million for a Customised Investment Program.
Conservative Income Investment Program – Regular income with exposure to investment grade credit only
Conservative Income invests in investment grade senior and subordinated bonds. Longer dated bonds form a key part of portfolios generating yield from credit and interest rates. The mix of holdings of fixed and floating rate bonds will shift through the interest rate cycle.
Core Income Investment Program – Regular income investing in senior debt only
Portfolios are predominantly exposed to investment grade senior bonds with a small allocation to unrated bonds. Exposure is to medium to longer tenor maturity profiles, facilitating higher yield generation. The mix of holdings of fixed and floating rate bonds will shift through the interest rate cycle.
Income Plus Investment Program – Higher income with moderate risk
Income Plus has a broader mandate to invest across the capital structure, senior through to subordinated bonds, and across the credit spectrum to include investment and non-investment grade companies. The allocation to select non-investment grade credits based on credit strength and subordinated bonds generates portfolio yield. The credit exposure and mix of rated and unrated bonds will shift through the credit cycle.
Inflation-Linked Income Investment Program – Income linked to inflation to protect purchasing power
Inflation Linked invests in pure inflation-linked bonds, CIBs and ILBs, issued by governments, semis and corporates and in FRNs that are highly correlated to inflation. FRNs are included to generate excess yield via credit exposure. The exposure to longer and shorter maturity ILBs will vary through the inflation cycle.
Customised Investment Program – Tailored investments of $5m+
MIPS offers the ability to create a bespoke fixed income portfolio based on your key investment objectives including liquidity, credit, duration, diversification and Ethical, Social & Governance (ESG) position.
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FIIG at a Glance
$11bn
Funds under management
7,000
Account holders
17 years
Established 1998
$1bn
FIIG Originated bonds
FIIG is Australia’s leading fixed income specialist. For 17 years we’ve been providing investors with direct access to bond markets and a range of term deposits and other cash solutions. We also help Australian corporates fund their growth through access to bond markets. We’re also Australia’s largest specialist fixed income provider with over $11 billion currently under investment.
Client Testimonials
FIIG has been a big part of our success and have always been very understanding of our needs and priorities. They are also very good at keeping one eye on performance to make sure we maximise returns.
Tony Eviston, Bathurst Catholic Diocese Fund
Greg Burrell, University of Newcastle.
Meet the MIPS Team
Head of MIPS Portfolio Management
Assistant Portfolio Manager
Director - Managed Accounts
Product Manager
