Higher risk funds paying dividends
AMP Capital’s bullish view of equities, and New Zealand stocks in particular, has paid off for the investment manager’s higher risk funds.
The subsidiary of Australasian wealth manager AMP said its growth fund returned 6.4 per cent in the three months to September 30 on a before fees and tax basis. In the year ending September it returned 17.7 per cent.
As an institutional fund manager, AMP Capital’s fees are determined on a customer size basis, and once fees are factored in, the growth fund returned 6.11 per cent on the quarter, and 16.4 per cent on the year.
That compares to the 13.4 per cent growth of New Zealand equities in the third quarter.