Ratings house Standard & Poor’s has placed AMP Capital’s property and listed infrastructure funds "on hold" following the company’s announcement it will be ending its joint venture with Brookfield Investment Management.
The AMP Core Property Fund rating had also been placed "on hold" following the changes due to an investment of about 25 per cent of funds under management in the global listed property securities strategy.
The ratings house described the changes as "a significant development – one which affects a number of AMP Capital-distributed and AMP Capital Brookfield managed funds".
It said that it had placed ratings of the affected funds on hold until it could meet with AMP Capital.
AMP Capital announced this week it would bring the management of its listed property and listed infrastructure capabilities in-house – something that would have significant implications for the investment teams.
