About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, November 15th, 6:56PM
rss
Latest Headlines

AMP Capital to offer direct investment

AMP Capital is opening its funds directly to retail investors.

Wednesday, March 16th 2016, 6:00AM 4 Comments

by Susan Edmunds

Investors will soon be able to invest directly into AMP Capital’s full range of retail funds through a dedicated direct investment platform.

In material distributed to its client base, AMP Capital said the previous minimum investment of $100,000 had made it hard for smaller investors to access its products.

“At the same time, we have seen a steady increase in the number of investors who want to ‘do it themselves’ and invest directly. Additionally, ongoing regulatory changes have also driven an increased interest in direct investment.”

AMP Capital’s associate director David Buell said it would appeal to investors who did not want to invest via a financial adviser or any other intermediary.

He said the knowledge AMP Capital had acquired in the Australian self-managed super fund market would pay dividends.

The platform would not be roboadvice but would be non-advised and only suit those who did not want personalised financial advice.

Adviser Robert Oddy said it was likely offering such as AMP’s new service would become more prevalent.

“Investor and saver direct access via the internet to products issued by the likes of AMP and its competitors, both within NZ and offshore, is most certainly going to expand,” he said.

“As has been the case with air travel, increased competition will force lower producer fees and improved choices - great outcomes for investors and savers. 

“Producers who cannot foresee coming price pressures may well join the dinosaurs down into the valley of extinction.  It was surprising to note that AMP has not reduced what appear to be high fees for this 'sales-only' retail direct product - at least by an amount usually paid to its advisers.  Logically, consumers who do not want advice would likely expect discounted fees to be offered for what is a 'sales-only' activity.”

AMP Capital has been approached for comment.  A new website for the service is believed to be set to launch after Easter.

Tags: AMP Capital investment

« Hotchin gets leave to appealLVR restrictions to be reviewed »

Special Offers

Comments from our readers

On 18 March 2016 at 5:00 pm gaman AFA said:
Interesting business model from AMP.

First, close down most of your local funds management.

Second, dis-intermediate your own advisors.

Third?
On 19 March 2016 at 2:46 am henry Filth said:
Third is pick up some business from people like me. There are a few of us mug punters who want the product, but not the associated "adviser" who has traditionally been the only way to access the product.


Not major business, but new business. And there may be a few of us. . .
On 21 March 2016 at 12:20 pm gaman AFA said:
Fair enough Henry, but why wait?

https://www.rabodirect.co.nz/cash-funds/managed-funds/find-funds/default.aspx
On 28 March 2016 at 5:49 pm henry Filth said:
Thanks gaman.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 ▼4.14 ▲4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - ▼3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

Last updated: 15 November 2019 4:16pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com