AMP MyNorth managed portfolios hit $1bn FUM
AMP MyNorth’s managed portfolios, which provide access to 33 diversified portfolios, have exceeded $1 billion in funds under management (FUM). At the same time, clients’ allocations remained steady and consistent with their risk profiles through COVID-19, according to AMP’s Research Choice Managed Portfolios, which represent close to 75% of total FUM across the managed portfolio.
The analysis found that clients continued to hold around 45% of their funds within the same asset class as over the past year, with the lower risk moderately conservative being a dominant risk profile for pension clients holding funds designed to provide income.
The only change that was observed happened among income focussed clients where there was an increase in holdings from 1.7% to 4.2% across the aggressive fund range.
“This potentially reflects a measured approach to increasing yield through slightly more aggressive allocations to higher risk assets, within the context of a lower interest rate environment,” AMP Australia’s chief investment officer, Lakshman Anantakrishnan, said.
“For those clients in pre-retirement accumulation phase, where there is naturally greater appetite for risk, balanced has consistently remained the most dominant risk profile, with clients investing approximately 50% of their funds in this option.”
Source: AMP
AUTHOR
Oksana Patron
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
