AMP deals knock-out blow to AMP

Bevan Graham

Wed, 21 Oct 2020

Just like that, AMP Capital NZ stands to lose the title as the country’s second-largest fund manager in its weight division.Following a stinging slap this week from sister company, AMP Wealth NZ, AMP Capital will ultimately see upwards of $9 billion float away in a winner-takes-all decision awarded to the world’s biggest fund manager, BlackRock.Under the move announced yesterday, AMP Wealth will transfer most of its roughly $9.6 billion of KiwiSaver and employer superannuation money to BlackRock-managed passive investment strategies...

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