AMP Capital picks up fixed income mandate
AMP Capital has picked up a key mandate from BT Financial Group and Advance.
The company announced this week it had won a $177 million fixed income mandate from Advance.
It said the mandate would form part of the Advance Australian Fixed Interest Multi-Blend Fund.
It will be managed by AMP Capital's head of macro markets, Simon Warner, in conjunction with the company's broader fixed income team.
Commenting on the mandate win, Warner said it represented a significant breakthrough and an endorsement of the quality of the team.
"Advance will benefit from our world-class credit capability as well as our unique whole-of-portfolio approach to risk management," he said.
As a result of the mandate, AMP Capital's fixed income funds under management have risen to $39 billion.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.