AMP gears up in self-managed funds in Australia

Tue, 26 Jun 2012

By Pam Graham June 27 (BusinessDesk) - AMP is gearing up in the self-managed superannuation sector in Australia but is not signalling a similar move in New Zealand. AMP is buying self-managed funds (SMSF) administrator Cavendish Group in Australia and says a new business unit called AMP SMSF will seek to grow its share of the largest and fastest growing superannuation sector in Australia. Currently the sector comprises assets of A$430 billion. It is projected to grow to A$2.2 trillion by 2030. "The acquisition of Cavendish, combined with th...

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