AMP Capital closes Total Return strategy to retail investors
Morningstar has withdrawn its recommendation for the AMP Capital Total Return strategy following AMP Capital Investor's decision to close the strategy to all retail investors.
According to Morningstar, the closure follows an assessment of the mandate to determine whether investor objectives are being met.
Institutional investors still have access to the strategy, but with a new minimum investment of $5 million.
Investments less than the new minimum need to be withdrawn by February 15, after which point they will be liquidated and returned to investors.
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By Jack
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