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INVESCO Asset Management Limited has been awarded a cash management mandate from Broomleigh Housing Association. It...
INVESCO Asset Management Limited has been awarded a cash management mandate from Broomleigh Housing Association. It is the first housing association mandate that INVESCO has won and builds on its success in managing assets of over half a billion pounds for local authorities and building societies.

Broomleigh Housing Association has selected INVESCO to manage a£15m sterling mandate with a brief to provide the consistencies of return above those that they would be able to achieve themselves. The portfolio will be managed by the UK Fixed Income Team, headed by Michael Markham. The benchmark is 1 week LIBID and the consultant involved was Prebon Consulting.

Commenting on the win, Michael Markham said:

'We are very pleased to have won our first housing association mandate. This builds upon our excellent track record and relationship with UK local authorities and a business that has doubled in size over the last two years for INVESCO. This mandate win reflects our strong process and resources at INVESCO as well as our strong economic and quantitative work.'


Broomleigh Housing Association

Broomleigh was formed in 1992, when after a successful ballot of Bromley LBC tenants and leaseholders, the council transferred its entire housing stock (14,000) to Broomleigh Housing Association.

One of the top ten housing associations in London, Broomleigh has a turnover of some£43m and was the first housing association to receive a BBB+ credit rating from Standard and Poors.

Since formation Broomleigh has spent over£70m on repairs and improvements to its residents' homes.

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