AMP transfers multi-asset into Australian wealth management
AMP has completed the transfer of its multi-asset group into Australian wealth management.
This would create AMP Investments, an end-to-end superannuation and investment platform. This included AMP’s flagship Signature Super, MySuper and choice superannuation platforms.
Led by chief investment officer, Anna Shelley, there would be $84.7 billion in assets under management and close to one million superannuation members.
Scott Hartley, chief executive of AMP Australian Wealth Management, said it was an important milestone in AMP’s transformation.
“Anna Shelley is a highly-regarded chief investment officer and has assembled an outstanding investment team, a mix of former AMP Capital Multi-Asset group, including AMP’s chief economist Shane Oliver, and outside talent.
“The team has strong capability across all asset classes, including responsible investment, which will be an increasing focus as more and more Australians seek to align their investments with their values.
“Working closely with the Trustee, AMP’s business now has end-to-end oversight and accountability for investment management, including investment strategy, investment performance and ensuring member fees are competitively low.”
AUTHOR
Laura Dew
Recommended for you
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.
