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AMP Capital sees strong demand for passive funds

AMP Capital has launched three new passively-managed index fund options for New Zealand retail investors.

Monday, December 4th 2017, 10:14AM 1 Comment

It already offers a range of passive funds for wholesale clients seeking low-cost exposure to listed markets.

But it said the new move for retail investors was in response to increasing demand for strategies offering broad market exposure with low operating expenses.

The new funds include the All Country Global Shares Index Fund, which aims to provide a return that closely matches the return of the MSCI All Country World Index ex Tobacco Index; the NZ Shares Index Fund, which aims to provide a return that closely matches the return of the S&P/NZX 50 Index; and the Hedged Global Fixed Interest Index Fund, which aims to provide a return that closely matches the Bloomberg Barclays Global Aggregate Bond Index (this fund also excludes Tobacco), fully hedged to the New Zealand dollar.

At the same time the minimum investment amount for retail investors has been lowered to $50 from $2000, and the funds will pay a distribution every six months. The funds are PIE-compliant.

Grant Hassell, managing director and chief investment officer, said: “AMP Capital is committed to delivering both active and passive capabilities that match our clients’ needs as we recognise the role they both play in a diversified portfolio. Introducing the three additional index funds to retail investors enables us to offer these capabilities to a wider universe of clients seeking low-cost exposure to these asset classes.

“The new funds complement our diverse range of actively-managed funds available to retail investors. We now offer 26 funds for retail investors seeking access to high-quality assets such as global property and global infrastructure, alongside traditional asset class such as corporate bonds and equities.”

AMP Capital has also announced changes to the investment strategy for the AMP Capital Hedged Global Fixed Interest Fund. This follows the completion of a review into AMP Capital’s multi-manager global fixed interest strategy.

The fund will now be managed to specific responsible investment criteria, which encourages investment in companies with strong environmental, social and governance (ESG) characteristics. The underlying managers will be governed by AMP Capital’s Responsible Investment Charter.

Tags: AMP Capital ESG investment responsible investing

« PAA gets 'no' voteMann on a mission to diversify financial advice »

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Comments from our readers

On 5 December 2017 at 1:45 pm smitty said:
Of course AMP advisers would use Passive solutions, it makes their Adviser fee and AMP charges more palatable, rather than the usual 2.50 to 3.50% all up charge for their clients.

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