AMP corporate bond surpasses $1bn
AMP Capital announced its corporate bond fund has crossed $A1 billion in funds under management four years after becoming available to retail investors.
The fund is ‘true-to-label', and invests mostly in investment-grade companies, with only 10 per cent allowed in high yield, across various industries.
AMP Capital head of retail and corporate business Craig Keary said the firm launched the retail version of the fund in 2009 in order to offer a lower risk path to investing in companies that gave them yield.
"We have also added the Corporate Bond Fund to our self-managed super fund series, which was launched this year to meet the needs of the growing DIY super sector," he said.
Co-portfolio manager Jeff Brunton said since their clients are not looking to beat a benchmark, but rather get a regular income, that will be their focus.
AUTHOR
Malavika Santhebennur
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