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May 31, 2022updated 01 Jun 2022 8:44am

Australia’s AMP combines multi-asset group into wealth arm

Australian wealth management firm AMP has concluded the transfer of the Multi-Asset Group capability into its wealth business.

The Multi-Asset Group was previously part of the AMP Capital investment management business.

The combined entity, which will be known as AMP Investments, will operate as the group’s super and investment platforms business.

Led by CIO Anna Shelley, AMP Investments manages $84.7bn in assets.

The assets include the retirement savings of AMP’s superannuation and platform members, and investments on behalf of external institutional and retail clients.

AMP’s superannuation offerings include its flagship SignatureSuper, MySuper and choice superannuation products, including those offered as part of the firm’s workplace superannuation mandates and on the North wrap investment platform.

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

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

Hartley further said: “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.

“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.”

Last month, AMP agreed to offload AMP Capital’s international infrastructure equity business to US-based DigitalBridge Group.

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