AMP hits $25 billion in FUM
Only 10 months after its launch, AMP's flagship wrap program, MyNorth is reaching $4.4 billion in funds under management (FUM), part of a total of $25 billion in FUM collectively with wrap product, North.
AMP director of superannuation, Patricia Montague, said sophisticated user experience interface and competitive pricing were the catalysts for the fast success of MyNorth.
"MyNorth caters to customers with a broad range of investment needs… our focus remains on how our platforms support adviser efficiency," she said.
"[It's] offering them more flexibility and control so they can continue to implement the strategies they choose, whatever their advice model."
Montague said improved account reporting and tablet compatibility had also helped boost the popularity of the wrap product, which could cater for complex portfolios as well as basic requirements.
AUTHOR
Hope William-Smith
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
