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
First Sentier Investors chief executive, Mark Steinberg, is set to depart the asset manager after seven years.
Metrics Credit Partners has completed the acquisition of Taurus Finance Group and BC Investment Group as it looks to launch consumer lending arm Navalo.
AMP has announced to the ASX that it is being sued by property fund manager Dexus regarding the sale of its real estate and domestic infrastructure equity business.
Having seen inflows of US$5.6 billion to its fixed income funds in the last quarter, Janus Henderson has closed on a deal with life insurer Guardian to secure funds to boost its product development.
