AMP dumps Mercer for Towers Watson

  • 1 December, 2011
  • 0
  • print

After eight years advising the $19 billion Future Directions and Responsible Investment Leaders multi-manager products, Mercer’s asset consulting agreement has not been renewed with AMP.

Towers Watson will be the new consultant across the range of AMP’s multi-manager products.

The move marks a rationalisation of AMP’s service providers following the integration of AMP and AXA.

Towers Watson has advised on the ipac-managed diversified funds, which have about $12 billion under management, since 2006.

Future Directions, which launched in 2003, had a reasonably aggressive asset allocation under Mercer, with higher-than-average weightings to global equities and alternatives.

Its 2011 strategic asset allocation included a 10 per cent allocation to alternatives, and 28 per cent to international shares.

It currently has a 3 per cent dynamic tilt towards defensive assets, and is overweight cash by 4 per cent.

 

Vote
Is the SMSF space central to your growth strategy?

 
We thought you might also be interested in these stories ›
Safe oil majors - an opportunity for equity investors
Safe oil majors - an opportunity for equity investors
Decision time: AMP braces for super switch
Decision time: AMP braces for super switch
Borrowing improvements give funds some wriggle room
Borrowing improvements give funds some wriggle room

Comments: 0

Leave your comment

  • Filter:
  • Practice Management

    The art and science of running a profitable and efficient financial planning practice.

  • CPD

    Keep your professional knowledge up to date with articles from recognised experts.

  • Professionalism

    What it really means – and what it takes – to be a true professional.

  • Regulation

    Stay abreast of the most recent changes to regulation and the law and how the changes affect your business.

  • Technical

    Product and sector issues interpreted, analysed and explained.

  • SMSF

    Everything you need to know about providing advice and guidance to the trustees of self-managed super funds.

iStock_000017906987XSmall
in Client Relationships

Challenge and consider changing your licensee

The professional obligations of financial planners trump those of their employers and should guide their behaviour in dealing with practices or processes that ... [more]

cash_suit
in Government and Regulation

Legal view: regulation won’t end scams

A senior finance-industry solicitor says the new era of fee-for-service will not automatically end the rorts offered by some commission-based schemes of the ... [more]

HELMICH_Steve
in Professional Standards, Videos

AMP’s Helmich on FoFA, recruitment

Steve Helmich, AMP director of financial planning, advice and services says he has never seen the mood more positive amongst AMP’s financial planners. ... [more]

iStock_000018821517XSmall
in Government and Regulation

Advisers singled out as Trio saga concludes

An 11-month investigation into the collapse of Trio Capital has concluded with a Parliamentary Joint Committee recommending closer scrutiny of both planners and ... [more]

Key-hole-iStock_000011051505XLarge
in Government and Regulation

Compensation key as Trio findings released

The Financial Services Council (FSC) has echoed the sentiment of an independent report calling for a “sense of proportion” in the debate over ... [more]

iStock_000009027973XSmall
in Private Banking, Videos

‘We have allowed product to drive the relationship’

Systemic failure by Australian private banks to service high-net-worth (HNW) individuals has created an opportunity for financial planners to compete for these clients. ... [more]

Load More