AMP NZWM moves to passive structure
AMP’s New Zealand Wealth Management (NZWM) has announced it will move towards predominantly index-based investment approach through providing a simpler and more cost-effective investment structure with the aim of improving performance for clients.
BlackRock Investment Management would be appointed to deliver NZWM’s new passive investment structure with funds expected to transition by end of 1H 2021.
NZWM and AMP Capital would work together to ensure a seamless transition for clients and that business impacts are minimised, it said.
“The change in investment approach responds to broader and long-term trends in expectations from clients, regulators and governments for KiwiSaver schemes,” NZWM said.
It noted that AMP Capital New Zealand would continue to provide active investment management options on NZWM’s WealthView platform, along with investment solutions for external clients across real estate, infrastructure, fixed income, and global equities.
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
