North’s managed portfolios surpass $14 billion AUM milestone

Australian investment platform, North, announced its managed portfolios suite reached the milestone of $14 billion in assets under management (AUM) on 28 February, making up 66 per cent in yearly growth.

The offering, made up of 362 managed portfolios, has contributed to the platform’s annual growth of 185 per cent since its launch in 2018.

North’s main suite now includes 112 portfolios from 19 investment managers, after the addition of a new Australian diversified fixed interest portfolio from Real Asset Management in December last year. The platform has also worked to extend its partnered managed portfolio opportunity, allowing advisers to work with investment managers and the North team to build customised portfolios to suit their practices and clients.

“Our investment and development program for North is targeted at the areas we know make it easy and efficient for advisers to deliver high quality advice to their clients,” AMP Group Executive for Platforms, Edwina Maloney, said.

“This includes the ongoing expansion of our managed portfolio offer as we look to partner with more advice practices to create tailored portfolios for their clients.

“Likewise, a flexible cash account is important to advisers in implementing efficient and cost-effective investments, as is switch functionality, which makes it easy for advisers to manage and execute trades.

“The positive recognition from Investment Trends, both from a general improvement perspective and the quality of North’s retirement offering, is testament to the success of our enhancement program which has been directly informed by feedback from advisers and the evolving needs of their clients.”

This comes after North received the Most Improved Platform and Best Retirement Solution recognitions in Investment Trends’ 2023 Platform Benchmarking Report.