AMP completes transfer of multi-asset group into wealth business

The newly created end-to-end super and investment platforms business includes the wealth manager’s flagship SignatureSuper, MySuper and choice superannuation products, including those offered as part of AMP’s workplace superannuation mandates and on the North wrap investment platform.

“Establishing the AMP Investments capability within the Australian Wealth Management business is an important milestone for AMP’s transformation strategy,” said CEO AMP Australian Wealth Management, Scott Hartley.

“The team is overseeing investment management for AMP’s close to 1 million superannuation members.”

AMP Investments will be headed by chief investment officer, Anna Shelley, and will boast $84.7 billion in assets under management, including the retirement savings of AMP’s superannuation and platform members, and investments on behalf of external institutional and retail clients.

“Anna Shelley is a highly regarded chief investment officer and has assembled an outstanding investment team – a mix of former AMP Capital multi-asset group, including AMP’s chief economist Shane Oliver, and outside talent,” said Mr Hartley.

“The team has strong capability across all asset classes, including responsible investment, which will be an increasing focus as more and more Australians seek to align their investments with their values.

“Working closely with the Trustee, AMP’s business now has end-to-end oversight and accountability for investment management, including investment strategy, investment performance and ensuring member fees are competitively low,” he added.

The multi-asset group was formerly part of the AMP Capital investment management business.