• K2 Asset Management selected to manage $242 million in investment mandates
• Mandate consists of four balanced and growth funds across multiple asset classes
• Mandate to be managed by K2 Corporate Services, a wholly-owned subsidiary

K2 Asset Management Holdings Ltd (K2) has announced that it has been selected to manage approximately A$242 million in investment mandates on behalf of an existing wealth manager. The mandates consist of four balanced and growth funds with exposure to over twenty-five third party externally managed funds across all asset classes. The mandate will be managed under K2 Corporate Services Pty Ltd, a wholly owned subsidiary of K2, which already manages and advises on portfolio construction, risk and provides broader portfolio consulting services to clients. The funds will be managed by George Boubouras, Managing Director (MD) of Research, Investments and Advisory (the K2 CIO Office) combined with key external investment consulting services. Mr. Boubouras has extensive experience successfully managing investments across all asset classes reflecting different asset allocation benchmarks that also includes selecting and monitoring third party fund managers. The mandate will require ongoing portfolio optimisation, fund selection and monitoring across various strategic asset allocation (SAA) benchmarks. This new mandate will increase K2's funds under management (FUM) by approximately A$242 million and result in an increase of revenue by circa 15%. The Board's focus continues to be ensuring that the pivot in business strategy that commenced in 2020 provides shareholders with sustainable revenue and continued growth via a three-pillar model consisting of Responsible Entity (RE) & Trustee Services, Funds Management and Advisory, and Listed Funds and Exchange Traded Funds (ETFs).

The new $242 million investment mandate is expected to increase K2's revenue by approximately 15% in the current fiscal year.

K2 is now well on track to deliver profit for the current fiscal year, building on the pivot in business strategy commenced in 2020 to provide shareholders with sustainable revenue and continued growth across its three business pillars.