AMP MyNorth managed portfolios hit $1bn FUM
AMP MyNorth’s managed portfolios, which provide access to 33 diversified portfolios, have exceeded $1 billion in funds under management (FUM). At the same time, clients’ allocations remained steady and consistent with their risk profiles through COVID-19, according to AMP’s Research Choice Managed Portfolios, which represent close to 75% of total FUM across the managed portfolio.
The analysis found that clients continued to hold around 45% of their funds within the same asset class as over the past year, with the lower risk moderately conservative being a dominant risk profile for pension clients holding funds designed to provide income.
The only change that was observed happened among income focussed clients where there was an increase in holdings from 1.7% to 4.2% across the aggressive fund range.
“This potentially reflects a measured approach to increasing yield through slightly more aggressive allocations to higher risk assets, within the context of a lower interest rate environment,” AMP Australia’s chief investment officer, Lakshman Anantakrishnan, said.
“For those clients in pre-retirement accumulation phase, where there is naturally greater appetite for risk, balanced has consistently remained the most dominant risk profile, with clients investing approximately 50% of their funds in this option.”
Source: AMP
AUTHOR
Oksana Patron
Recommended for you
Former Platinum co-founder James Simpson will take up a non-executive role at Income Asset Management as two directors retire.
Bell Financial Group has announced a 44 per cent decline in half-year net profit after tax but record funds under advice as it transitions into a diverse wealth management business.
Having predicted three ETF trends for Australia at the start of this year, State Street has shared how these are tracking and whether Australia will successfully reach US$30 billion ETF inflows for 2025.
Magellan fund manager Nikki Thomas is to depart next month as the firm reviews its range of global equity funds and transitions her High Conviction fund.
