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
A financial advice firm has seen a weekly decline of 10 advisers, with all moving to a new licensee, while Centrepoint Alliance continues its “growth story”.
Sequoia Financial Group has seen a top-level reshuffle as the chair of the board, John Larsen, steps down after five years in the position.
As statements of advice move into the rear-view mirror, Vital Business Partners explores how financial advisers are adopting innovative documentation strategies.
Adviser Ratings has explored whether there is a financial benefit to advice firms seeking to have a specialised client base in terms of client assets and fees charged.
