AMP launches Advantage Funds range
AMP has launched the Advantage Funds range across its wrap platforms including MyNorth, North, Summit, iAccess, PortfolioCare and WealthView.
According to AMP, the new funds would provide advisers and their clients with an access to greater breadth of wholesale managed funds at lower ongoing management fees.
The Advantage Funds range would be available to new and existing super, pension and investments clients and included 31 funds across Australian and global equities, fixed interest, property and infrastructure as well as alternative investments.
They would also include wholesale funds from a range of respected fund managers and would offer discounted ongoing management fees compared with the underlying wholesale funds.
AMP’s head of product management, David Clark said: “We’ve been able to take advantage of AMP’s scale and partnerships with leading fund managers to provide the funds at comparatively lower ongoing management fees, thereby supporting investment returns.
“The range is part of AMP’s broader commitment to offer high-quality platform and investment solutions to help customers achieve their investment and retirement goals,” he said.
AMP’s North platforms received net cashflows of $5.7 billion in 2017, with assets under management growing to $35 billion, the firm said.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
