AMP RI funds 'on hold' following leadership changes
Standard & Poor's (S&P) has placed AMP’s responsible investment funds ‘on hold’ following a number of portfolio manager changes.
S&P fund services analyst Sheela Veerappan said the leadership changes to AMP’s Responsible Investment Leaders (RIL) funds, which include the RIL Australian Fund, RIL International Fund and the RIL Balanced Fund, have led to concerns regarding the level of team turnover, despite the funds receiving external support from consultants Mercer Australia and Edwards Benefits Advisory.
Van Thukorala, senior portfolio manager of Future Directions, has replaced portfolio managers Sally Boone and Tanya Debakhapouve of the RIL Australian and International funds respectively, while AMP Capital Investors chief investment officer Sean Henaghan has replaced Boone to lead the RIL Balanced Fund team.
AUTHOR
Caroline Munro
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