Reduced fees see AMP Capital continue to manage AWOF
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AMP Capital is to continue as trustee and manager of the AMP Capital Wholesale Office Fund (AWIF) following advice from an independent advisory committee.
AMP announced to the Australian Securities Exchange (ASX) today that the Trustee Board of the Wholesale Office Fund had decided it was in the best interests of unitholders as a whole for AMP Capital to continue as the trustee and manager of the fund.,
“The Trustee Board, which has been advised by an Independent Advisory Committee (IAC) and external legal and financial advisers, made the decision following a thorough assessment of management proposals received from AMP Capital and two short-listed competitors,” the ASX announcement said.
However, it said AMP Capital would “implement several changes under its proposal, including the governance of the fund, increased manager alignment and reduced fee arrangements.
AMP has committed to providing alignment capital to support the Wholesale Office Fund and other real estate funds managed by AMP Capital, ahead of the planned demerger of AMP Capital’s Private Markets business.
AMP estimates its total capital support to the real estate business ahead of demerger will be up to $500 million.
FAAA, as has others, have been lobbying too about the CSLR. Here is some public commentary on Linked iN https://www.linkedin.com/feed/update/urn:li:activity:7220619889001082882/
Agree about "Or was the Ramsay Review a shonky pseudo-scientific exercise like ASIC’s insurance churning review" ASIC should re-open the…
Aren't All Government reviews predetermined and they just backfill the evidence to Justify the action. This is both sides
you're spot on ANON
The govt seems to be trying to hide behind the "Ramsay Review". Does anyone know what the Ramsay Review was?…