Business
‘It’s too late now’: why AMP missed the boat – The Australian Financial Review
The wealth management firm is continuing its track record of poorly timed or ill-thought strategic decisions with new chairman Debra Hazelton’s portfolio review, according to East 72’s Andrew Brown.
“The lost opportunity was index,” he said. “AMP could have become the biggest index/ETF/passive guys in Australia and potentially the region.”
Mr Brown said the company’s continued underperformance was a key reason AMP Capital failed to attract mandates. According to AMP’s latest investor report, external mandates in Australian equities make up just 1 per cent of the company’s external assets under management.
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