AMP’s North expands with 7 active portfolios
North, AMP’s investment platform, has added six actively managed portfolios to its menu alongside a socially responsible fund.
The platform’s wider menu has grown by 44 new managed funds this year to date, now offering a total of 111 portfolios across various asset classes and investment strategies.
Following increasing demand from financial advisers for greater ESG options, North has added DNR Capital’s Australian Equities Socially Responsible Portfolio to its platform.
The product provides exposure to high-quality large and mid-cap Australian listed equities. Additionally, it utilises a negative screening strategy in combination with an ESG ratings assessment, ESG integration and company engagement.
North also announced the addition of six actively managed portfolios from Morningstar’s Medalist Core range, which includes managed funds and exchange-traded funds (ETFs).
All advisers can access this suite across a vast set of risk profiles, which uses both active and passive strategies.
Edwina Maloney, AMP group executive of platforms, said: “AMP continues to invest in strengthening its managed account functionality and its multi-asset group capability, with strong ratings compared to our peers.”
“The addition of ESG and multi-asset portfolios from DNR Capital and Morningstar reflect the feedback we’ve received from advisers on what matters most to them and their clients, with North now having 111 high-quality managed portfolios available.”
She added that North is continuing to grow its investment menu to further meet advisers’ demands.
Rick Di Cristoforo, Morningstar director of research products for Australia and New Zealand, said he was thrilled to see the portfolios added to the platform.
“We are pleased that advisers who seek to provide an implementation of our quality fund research and asset allocation within the well-regarded North platform will have access to this offering,” he commented.
Moreover, Robert White, DNR Capital chief executive, explained the addition of its socially responsible fund represents the firm’s strong partnership and affiliation with AMP.
AMP recently reported that inflows from financial advisers to North increased by 17 per cent in the third quarter of 2023, rising to $565 million.
Platform assets under management were unchanged from Q2 at $68.3 billion as a result of a decline in net cash flow.
Net cash flow (excluding pension payments) was down from $748 million in Q2 to $426 million in Q3, a decline of 43 per cent.
This was driven by the reduction in non-super investment in response to the current economic conditions, the firm said in an ASX statement.
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