tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Wednesday, August 17th, 6:01PM

News

rss
Latest Headlines

Sold sign goes up at AMP Capital

AMP has agreed to sell AMP Capital to Macquarie Asset Management.

Thursday, July 8th 2021, 10:06AM 1 Comment

AMP has entered into a binding agreement with Macquarie Asset Management to sell AMP Capital’s Global Equities and Fixed Income (GEFI) business for up to A$185 million.

The sale effectively includes the New Zealand business.

AMP says the sale delivers its strategy to focus on high-growth opportunities in private markets across real estate, infrastructure and associated adjacencies, and is an important step in preparing the business for its planned demerger from AMP Limited in the first half of 2022.

The transaction delivers on the previously announced strategy for the AMP Capital public markets business to increase the scale of GEFI through partnerships or sale. AMP Capital is also in the process of transferring the Multi-Asset Group business to AMP Australia to create an end-to-end superannuation and investment platform business.

AMP Capital’s GEFI business currently manages A$60 billion in assets under management for AMP Australia as well as a number of external institutional, retail and direct clients.

Under the sale agreement, AMP Capital’s capabilities in Australian and global listed equities and global fixed income will be combined with Macquarie’s public investments platform.

As part of the Macquarie Group, GEFI will be positioned to further improve its high-quality client service offering and to expand its client base and product set over time. The transaction will also allow GEFI to benefit from Macquarie Asset Management’s scalable global operating platform.

Head of Macquarie Asset Management Ben Way said; “This transaction represents another opportunity to add high-quality, complementary capabilities as we continue to scale the Macquarie Asset Management public investments platform.

"It cements Macquarie’s position as the leading investment manager in Australia by assets under management and allows us to further diversify our client offering and bring new opportunities to clients joining us from AMP Capital.”

Tags: AMP AMP Capital Macquarie

« Once in a lifetime business - Take twoMann on a mission to diversify financial advice »

Special Offers

Comments from our readers

On 9 July 2021 at 10:08 am Pragmatic said:
At a sale price of .308% of book, I’d suggest that Macquarie purchased the ‘book’ rather than the ‘business’.
A miserable end to a once-proud industry icon

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
AIA 6.35 5.25 5.45 5.99
ANZ 6.34 5.59 6.05 6.29
ANZ Blueprint to Build - - - -
ANZ Special - 4.99 5.45 5.69
ASB Bank 6.35 ▼4.99 5.45 5.69
Avanti Finance 6.65 - - -
Basecorp Finance 7.25 - - -
Bluestone 6.89 - - -
BNZ - Classic - 4.95 5.39 5.69
BNZ - Mortgage One 6.39 - - -
BNZ - Rapid Repay 6.39 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 6.39 5.55 5.99 6.29
BNZ - TotalMoney 6.39 - - -
CFML Loans 7.25 - - -
China Construction Bank - 5.35 5.80 5.99
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 4.89 - -
Co-operative Bank - Owner Occ 6.25 4.99 5.39 ▼5.69
Co-operative Bank - Standard 6.25 5.49 5.89 ▼6.19
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 5.35 5.85 -
Heartland Bank - Online 4.60 ▼4.79 ▼5.15 ▼5.14
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.50 ▼5.50 6.00 -
HSBC Premier 6.34 5.09 5.34 5.59
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.00 4.79 5.15 5.69
Kainga Ora 5.85 5.31 5.58 5.97
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 6.00 5.95 6.45 ▼6.59
Kiwibank - Offset 6.00 - - -
Kiwibank Special - 4.95 5.45 ▼5.69
Liberty ▲5.34 - - -
Lender Flt 1yr 2yr 3yr
Nelson Building Society 6.95 5.55 6.15 -
Pepper Money 5.29 - - -
Resimac 5.59 6.54 6.44 6.98
SBS Bank 6.29 5.39 5.79 5.99
SBS Bank Special - 4.89 5.29 5.49
Select Home Loans 6.89 - - -
TSB Bank 7.05 5.65 6.09 6.39
TSB Special 6.25 4.85 5.29 5.59
Unity 5.65 4.95 5.55 -
Wairarapa Building Society 6.49 5.55 6.15 -
Westforce credit union - Special - 5.35 5.85 -
Lender Flt 1yr 2yr 3yr
Westforce credit union - Standard 5.85 6.05 6.55 -
Westpac 6.39 5.55 6.05 6.29
Westpac - Offset 6.39 - - -
Westpac Special - 4.95 5.45 5.69
Median 6.34 5.33 5.79 5.83

Last updated: 17 August 2022 9:01am

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