AMP Capital China JV pays dividends
The joint venture between big China insurer China Life and AMP Capital — China Life AMP Asset Management Company Limited — has taken its next step with the launch of its first mutual fund.
The new product, the China Life AMP Money Market Fund, will invest in a range of short-term investments such as liquid short-term bonds and cash deposits on behalf of both retail and institutional customers.
Commenting on the launch of the new fund, AMP Capital chief executive Stephen Dunne said he was pleased to see the product brought to market just months after the establishment of the joint venture arrangement.
"The China Life AMP Money Market Fund analyses macroeconomic factors, monetary policy and credit supply to make a judgement on the trend of the yield curve while taking into consideration liquidity and the risk profile of different instruments," he said.
"It will appeal to investors who are looking for both yield and liquidity. We are very pleased with the level of support we've seen and look forward to providing Chinese domestic investors with additional investment products down the track."
AMP Capital holds a 15 per cent stake in the joint venture while China Life Asset Management Company Limited holds the rest. It is China Life's first joint venture in mainland China with a foreign partner in funds management.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
