AMP launches SMA platform options

According to a statement, the non-bank lender has rolled out MyNorth Managed Portfolios, adding 12 new separately managed portfolios to its MyNorth, North, Summit and iAccess platforms.

The new portfolios fit into accumulation, income and objective-based investment categories and are “designed to meet specified investment objectives”, according to the statement.

Clients can track the performance of underlying assets with the North platform and will own the individual assets in their chosen managed portfolio.

Commenting on the launch, AMP head of platform development John Keating said advisers would be able to spend more time with clients from “the simplicity and ease through which the portfolios are accessed and administered”.

“The new portfolios continue the investment AMP is making in our platforms and products to ensure advisers can confidently help clients achieve their goals,” he said.

AMP has signalled it will expand its managed portfolio to include direct access to equity later in 2018.

The MyNorth and North platforms together have $35 billion assets under management.