IPO Wealth (PRIVATE:IPO) managing director James Mawhinney speaks to Proactive Investors about the $50 million plus raised from Australian wholesale investors since the establishment of the IPO Wealth Fund in March of last year.
"We've just recently achieved an excellent milestone, which actually occurred a lot sooner than we thought it would: we've now raised our 50 millionth dollar into the fund. We have, as of July this year, a 91% retention rate. So nine out of ten investors that park money with us - whether it's for a three, six or twelve month term - are actually rolling over for future terms... we put a really heavy emphasis on customer service,” Mawhinney says.
IPO Wealth will be building upon the success of its fund and strategy to date with geographic expansion into the markets of the European Union and the United Kingdom.