AMP CAPITAL INVESTORS
Fund Manager Profile
July 2014
Company overview
AMP Capital is a leading specialist investment manager with
240 investment professionals and a carefully selected global
network of investment partners. AMP Capital has over
A$124 billion in funds under management (as at 31 March 2012)
and offers significant depth and breadth of investment
expertise across a range of asset classes including equities,
fixed income, direct and listed infrastructure, direct and listed
property, diversified and multi-manager disciplines.
As a subsidiary of AMP Limited (AMP), AMP Capital benefits
from the resources and financial strength of its parent while
operating autonomously with a pure investment focus.
Fixed income team
As one of the largest and most experienced fixed income
managers in Australia and New Zealand, AMP Capital offers a
wide range of actively managed fixed income investments
designed to take advantage of market opportunities.
AMP Capital is one of the most active and influential
participants in the primary bond market in Australia, allowing it
to negotiate favourable terms and pricing that benefit clients.
Its fixed income capabilities range from government bonds to
high yield credit strategies, across both domestic and global
bond markets. In addition to its pooled investment funds, it
offers customized portfolio solutions across all areas of the
fixed income spectrum, tailored to individual client risk and
return needs.
AMP Capital’s Fixed Income team includes specialists with
experience across all market cycles and both corporate and
government bond markets. Detailed research means every
investment decision is analysed from a global context. The team
also benefits from information sharing with the economics, real
estate, infrastructure and equity teams, which helps to provide
a broad perspective on companies in which it invests as well as
the outlook for the industries in which those companies operate.
AMP CAPITAL INVESTORS – July 2014
Investment philosophy
AMP Capital believes that through the combination of good
research, a strong process and a large and experienced team, it
can consistently add value to fixed income portfolios through
the management of both interest rate and credit risk.
Adherence to this investment philosophy is clearly evidenced
by the commitment of staff and other resources to the active
management of a wide variety of interest rate products.
Investment process
AMP Capital’s process reflects its core investment philosophies,
that markets can overshoot fundamentals; that bubbles and
cycles always end; that valuations are critical to generating
conviction in investments; and that neither top-down nor
bottom-up analysis is right all the time. It is collaborative, well
connected and seeks to capitalise on research and insight
across AMP Capital to make the best investment decisions.
AMP Capital’s investment process is heavily team based. It
breaks the sources of risk in its portfolios into separate areas
and assigns specialist investment professionals to each area. Its
investment professionals utilize the research from the fixed
income team and across the firm to make assessments on the
importance of factors that are common to all areas, including
macroeconomics, risk aversion and policy conditions. AMP
Capital’s specialists also use research and indicators that are
unique to their area of expertise to make assessments of factors
such as valuation, demand/ supply imbalances and sentiment.
The specialists combine these common and unique factors to
generate a view and a conviction around each source of risk in
the portfolio.
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Reason Advance selected AMP Capital Investors
AMP Capital Investors is a very large Australian based domestic
fixed interest manager, which brings access to companies for
credit assessment and sophisticated front office investment and
highly regarded risk systems. Its well resourced domestic fixed
interest team has a strong leadership group with focused
decision making and a diversified skill set. The investment
process is well thought-out and logical with a highly systematic
and differentiated macro process and a detailed and disciplined
bottom up credit process. AMP has significant credit assets
under management, which provides information on credit deal
flows and full access to corporate management. Finally, AMP
blends in well with the other two managers to provide
unitholders with greater scope for generating returns with
lower risk.
Advance Asset Management, GPO Box B87, Perth WA 6838
Customer Relations 1800 819 935 Adviser Services 1300 361 864 Fax (02) 9274 5211
advance.com.au
This information is of a general nature only and has been prepared without taking into account the objectives, financial situation or needs of any particular person. Before acting on the information,
a person should consider its appropriateness having regard to these factors. The Advance managed fund (Funds) are issued by Advance Asset Management Limited ABN 98 002 538 329 AFSL
dNo. 240902. Before deciding whether to acquire or to continue to hold an investment in the Funds, investors should obtain and consider the Product Disclosure Statement for the Funds, available
from Advance at advance.com.au or by calling 1800 819 935. While the information in this document is given by Advance in good faith, it does not warrant that it is accurate, reliable, free from error
or omission. Information from third parties is believed to be reliable however it has not been independently verified.
AMP CAPITAL INVESTORS – July 2014
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