AMP dumps Mercer for Towers Watson

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.

 

, , ,

Leave a Comment

The ‘kids’ inheriting older clients’ wealth might soon be retirees themselves

The ‘kids’ inheriting older clients’ wealth might soon be retirees themselves

The conventional wisdom that the kids of advisers’ oldest clients stand to inherit their wealth might be overlooking the fact that by the time it happens these “kids” are likely to be near or in retirement themselves. The 2026 Generational Report suggests that advisers and businesses looking for a client refresh could be better off focusing on the grandchildren.

Sort content by