Banking giant AMP has transferred the Multi-Asset Team into its wealth business to make AMP Investments, an close-to-conclude super and investment platforms operation.
Under the management of main financial commitment officer, Anna Shelley, AMP Investments manages A$84.7bn (£48.3bn, $60.9bn, €56.7bn) in belongings less than management, including the retirement savings of AMP’s superannuation and system customers, and investments on behalf of external institutional and retail purchasers.
The Multi-Asset Group was previously portion of the AMP Funds financial commitment management organization.
Scott Hartley, chief executive of AMP Australian prosperity management, stated: “Establishing the AMP Investments functionality inside of the Australian prosperity administration organization is an important milestone for AMP’s transformation tactic.
“The crew is overseeing financial commitment administration for AMP’s near to a person-million superannuation members. The workforce has strong ability across all asset classes, together with dependable expense, which will be an raising aim as far more and a lot more Australians seek to align their investments with their values.
“Working closely with the trustee, AMP’s small business now has end-to-conclude oversight and accountability for financial investment management, which include financial commitment strategy, investment overall performance and guaranteeing member service fees are competitively very low.”