Business
AMP bites the bullet on passive investing – The Australian Financial Review
The world’s largest asset manager, BlackRock, will be put in charge of AMP’s New Zealand wealth management business in a move expected to happen by mid-2021.
While AMP said AMP Capital New Zealand would continue to provide active investment management options on AMPs WealthView advice platform in New Zealand, the shift to passive comes after AMP Capital’s New Zealand boss, Bevan Graham, and head of distribution, Greg McMaster, quit the company in the wake of the promotion and demotion of Mr Pahari.
The shift comes amid a move by the Australian government to encourage passive investment as part of reforms unveiled in the October budget. Passive inves…
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