Business
AMP’s Nader Naeimi jumps ship as flagship fund shut down – The Australian Financial Review
Fund manager Nader Naeimi is the latest high profile AMP Capital employee to flee the troubled wealth group amid the cultural crisis and ahead of the AGM.
The funds assets under management had shrunk to $180 million from $600 million in just a few years, plagued by poor performance and fees geared to run significantly higher in periods of strong asset growth.
It is understood the dwindling AUM was eating into investment returns given the fixed operating expenses of the product.
Mr Naeimi is credited with establishing AMP Capitals dynamic asset allocation strategy across a number of its funds. The strategy continues to be an important part of AMPs…
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