North adds 12 managed portfolios

AMP’s wrap investment platform, North has announced an addition of 12 managed portfolios from Zenith Investment Partners and Russell Investments, along with 21 new investment options.

The company said the additions followed the continued expansion of its partnered managed portfolio range, with eight advice practices having created tailored offers since March.

The new managed portfolios would cover a range of strategies and styles, including Russell’s five multi-asset portfolios, two sustainable portfolios and a new geared high-growth portfolio.

Also, four new dynamic exchange traded fund (ETF) portfolios were added to Zenith’s existing portfolio range.

The range would include direct equities portfolios, offered by a range of dedicated managed portfolio specialists, the firm said.

In addition to the new managed portfolios, North added 21 investment options to its menu which were available now, with the funds covering a range of assets classes, styles and geographies, including multiple new sustainable funds and an impact fund.

AMP’s director of platform,s Edwina Maloney, said: “Managed portfolios continue to surge in popularity given the many benefits they provide clients, including direct asset ownership, portfolio transparency, cost efficiency, and access to world class investment managers. Importantly, they also free up advisers to spend more time with their clients.

“We’re continuing to expand the range of portfolios we offer through the North platform, which have now passed $5 billion in assets under management, despite volatile investment markets. This includes partnering with more advice practices and investment managers to create tailored client portfolios.”

The firm also said that it would launch its new market-first North retirement income solution later this year.