AM revamps international approach
AM Corporation has restructured its international fund for the second time this year.
Fidelity and Capital have been added to the list of international fund managers making up the group's fund of funds. These two managers have been added to give the fund what it calls an "active core" element.
The "active core" approach is aimed at a style neutral position which has been growing in popularity in recent years. Thirty per cent of the AM fund will now be invested using the active core approach.
The move follows the introduction of Dresdner and Nicholas Applegate in February as the two fund managers using a growth investment style.
Under the latest moves, AM has cut its exposure to the growth and value managers it uses for the funds. Dresdner and Nicholas Applegate have both moved to 7.5 per cent from 15 per cent previously as have AM's two growth managers Lazard and Bank of Ireland. It will maintain its high exposure to passive funds, including 35 per cent with State Street and 5 per cent with Morgan Stanley.
AM says both moves have been aimed at correcting underperformance by the fund.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
