Vanguard picks up 5% of AMP Limited

Major investment house Vanguard has taken advantage of the recent decline in AMP Limited’s share price, picking up a 5.1 per cent interest in the company.

Vanguard Group announced to the Australian Securities Exchange (ASX) that it had picked up 144,315,656 AMP Limited shares across a range of transactions, paying as little $4.32 per share last Thursday but as high as $5.35 in February.

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Of the AMP shares purchased, the ASX announcement revealed that the majority had been acquired by the US parent company, Vanguard Group with the remainder being acquired by Vanguard Investments Australia.

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