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

Claude for Advisors hints at a bigger problem than just meeting prep

Claude for Advisors hints at a bigger problem than just meeting prep

If advice businesses need an AI orchestrator like Claude for Financial Advisors to connect multiple systems in order to gather information for client meetings, then the problem they have is not just prepping for meetings, but the multitude of systems and fragmented data.

Sort content by