North expands portfolio range in response to adviser demand

Wrap investment platform North has announced the addition of seven actively managed portfolios to the platform, including DNR Capital’s Australian Equities Socially Responsible Portfolio.

The portfolio, which has been certified by the Responsible Investment Association Australasia (RIAA), offers concentrated exposure to high quality large and mid-cap Australian listed equities.

According to North, it is designed for investors who seek an actively managed Australian equities portfolio that adopts a negative screening strategy, combined with an ESG ratings assessment, ESG integration and company engagement.

Also joining the investment menu are six actively managed portfolios from Morningstar’s Medalist Core range, made up of Morningstar Medalist rated managed funds and exchange traded funds (ETFs).

The six portfolios, which use a combination of active and passive strategies, are available to advisers across various investment horizons and a broad set of risk profiles, ranging from conservative to all growth.

AMP confirmed that the last 12 months has seen growing demand from advisers for more choice in ESG options on North, providing additional flexibility when it comes to selecting responsible investment options.

As such, AMP group executive Edwina Maloney said the firm is maintaining its focus on strengthening its managed account functionality and multi-asset group capabilities.

“The addition of ESG and multi-asset portfolios from DNR Capital and Morningstar reflect the feedback we’ve received from advisers on what matters most to them and their clients, with North now having 111 high-quality managed portfolios available,” Ms Maloney said.

“We are continuing to expand North’s investment menu to give advisers the very best in range, flexibility and seamless on-platform experience.”

Morningstar’s ANZ director of research products, Rick Di Cristoforo, added that the firm is pleased to have its Medalist Core portfolios join North’s suite of products.

“The Medalist portfolios are a marrying of our extensive research and investment capabilities,” Mr Di Cristoforo said.

“We are pleased that advisers who seek to provide an implementation of our quality fund research and asset allocation within the well-regarded North platform will have access to this offering.”

DNR Capital chief executive Robert White added: “We’ve had a long affiliation with AMP, already having a number of our products available via the North platform and we’re pleased to continue our strong partnership with them.”

In August, AMP reported significant growth in North’s assets under management to $11 billion, representing an increase of $9 billion in just two years, having been just $2 billion in May 2021.