AMP RI funds 'on hold' following leadership changes
Standard & Poor's (S&P) has placed AMP’s responsible investment funds ‘on hold’ following a number of portfolio manager changes.
S&P fund services analyst Sheela Veerappan said the leadership changes to AMP’s Responsible Investment Leaders (RIL) funds, which include the RIL Australian Fund, RIL International Fund and the RIL Balanced Fund, have led to concerns regarding the level of team turnover, despite the funds receiving external support from consultants Mercer Australia and Edwards Benefits Advisory.
Van Thukorala, senior portfolio manager of Future Directions, has replaced portfolio managers Sally Boone and Tanya Debakhapouve of the RIL Australian and International funds respectively, while AMP Capital Investors chief investment officer Sean Henaghan has replaced Boone to lead the RIL Balanced Fund team.
Recommended for you
Adviser losses this week are quadruple the same period a year ago, with the industry falling into negative territory for the last 12 months.
Colonial First State has announced the latest manager to join its Edge managed accounts menu, focusing on providing investors with a strategic income.
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
