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Morningstar has withdrawn its recommendation for the AMP Capital Total Return strategy following AMP Capital Investor's decision to close the strategy to all retail investors.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Investments less than the new minimum need to be withdrawn by February 15, after which point they will be liquidated and returned to investors.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
