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
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
