North launches flexible managed portfolio offering
North, AMP’s investment platform, has announced their new managed portfolio service ‘Buy, Badge, Build’.
The proposition would enable financial advisers to build their own customised managed portfolio from their wide investment menu.
Advisers would utilise benefits including reduced investment management fees, branded quarterly reports and product disclosure statements.
Furthermore, firms would work with a dedicated North project manager in support of building and delivering their managed portfolio.
The launch followed North’s increased growth, as their AUM for managed portfolios surpassed $7 billion. This brought the firm’s overall AUM to over $55 billion towards the end of Q3 22.
A total of 28 managed funds were added to the investment menu over the last two months, as well as eight ETFs. The additions range across numerous risk profiles and asset classes.
The new funds included:
- Aus Unity Diversified Property Fund;
- Capital Group Global Corporate Bond Hedged;
- Chester High Conviction Fund;
- Firetrail Australian Small Companies Fund and more.
Edwina Maloney, director of platforms at AMP, said: “Throughout 2022 we’ve worked closely with the advice community to expand and strengthen our investment menu and offers, in particular through our expanding managed portfolio range.”
AMP also announced the future launch of four new managed portfolios with investment manager Elston. A total of 34 managed portfolios would have joined the firm’s buy menu, making 95 portfolios available overall.
AUTHOR
Jasmine Siljic
Recommended for you
Women are expected to inherit US$124 trillion through the intergenerational wealth transfer, but Capital Group has found they are twice as likely to rely on social media for advice over a financial adviser.
Challenger Investment Management has raised $350 million during the offer period for its new ASX-listed investment structure.
A week after Lonsec downgraded multiple funds from Metrics Credit Partners, rival research house Zenith Investment Partners has opted to retain its ratings for the same funds.
Strong adviser engagement has helped Praemium reach $1 billion in inflows on its Spectrum offering, with a deal with Western Australian wealth firm Euroz Hartleys expected to add as much as $2 billion.
