AMP may wind up fund

AMP Capital may be set to close its Strategic NZ Shares Fund, worth $150 million.

Tuesday, December 15th 2015, 5:59AM

Investors could be given the option to transfer to the NZ Shares fund.

Both are managed by Salt Funds Management.

In a document lodged on the MBIE Disclose website, AMP Capital said:

"We are currently considering whether to close and wind up the Strategic NZ Shares Fund. It is therefore possible the Strategic NZ Shares Fund will be closed and wound up in the near future.

"However, no final decision has been made or approvals granted for this. If the Strategic NZ Shares Fund is wound up, we may (in our complete discretion) offer investors in the Strategic NZ Shares Fund the option of transferring to another Fund for a reduced buy/sell spread.

"If the Strategic NZ Shares Fund is wound up and that option is not offered, or investors do not choose that option, then investors' ability to redeem their units in the Strategic NZ Shares Fund may be suspended while the assets of the Strategic NZ Shares Fund are realised and the resulting cash distributed. "

Tags: AMP Capital

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