AMP launches Advantage Funds range
AMP has launched the Advantage Funds range across its wrap platforms including MyNorth, North, Summit, iAccess, PortfolioCare and WealthView.
According to AMP, the new funds would provide advisers and their clients with an access to greater breadth of wholesale managed funds at lower ongoing management fees.
The Advantage Funds range would be available to new and existing super, pension and investments clients and included 31 funds across Australian and global equities, fixed interest, property and infrastructure as well as alternative investments.
They would also include wholesale funds from a range of respected fund managers and would offer discounted ongoing management fees compared with the underlying wholesale funds.
AMP’s head of product management, David Clark said: “We’ve been able to take advantage of AMP’s scale and partnerships with leading fund managers to provide the funds at comparatively lower ongoing management fees, thereby supporting investment returns.
“The range is part of AMP’s broader commitment to offer high-quality platform and investment solutions to help customers achieve their investment and retirement goals,” he said.
AMP’s North platforms received net cashflows of $5.7 billion in 2017, with assets under management growing to $35 billion, the firm said.
Recommended for you
T. Rowe Price believes Australian growth is successfully managing to shrug off consumer weakness, but the firm’s multi-asset team is not yet positive enough to increase its underweight position.
Iress has issued an update denying the validity of “certain statements” made by an alleged threat actor, following a cyber incident last weekend.
The latest budget papers have outlined a $10 million provision for ASIC greenwashing enforcement activity as well as funds for a sustainable labelling regime to be partially met by industry levies.
Betashares has expanded its fixed income solutions with the launch of a new ETF offering exposure to subordinated bonds issued by the big four Australian banks.
