ANZ recently announced its strategic exit from the wholesale investment business segment. This means that it will no longer provide third-party funds and investment management services to AMP or any other fund manager in New Zealand.
As a result, AMP has appointed BlackRock, one of the world’s largest asset managers, to replace ANZ as the new underlying investment manager of the ANZ Funds, which will be renamed the ‘Global Select Funds’.
You can find more information about BlackRock and why it was appointed as the new investment manager of the Global Select Funds here.
If you have invested in ANZ via AMP NZRT, you would have likely received a notification from AMP about the closure of ANZ funds and the transition of their management to the BlackRock Investment team next month.
What does this mean for you?
This change presents an opportunity to reassess your investment strategy and make sure it aligns with your financial goals. It’s important to ensure you’re in a fund that suits your personal circumstances and investment objectives.
If no action is taken, your investment will automatically transfer from ANZ to BlackRock. The management style will remain active, and there will even be a small reduction in fees.
Our recommendation:
We suggest discussing your options with your Financial Adviser — we encourage you to seek personalised advice to ensure the best outcome for your portfolio, and this is an opportune time to discuss being in the right fund for your personal circumstances
If you don’t currently have a Financial Adviser, we’re here to help. As part of the arrangement the Judiciary has with Lifetime, you can talk to a Lifetime Financial Adviser. For further information on the Judiciary Lifetime Planning service please click here.
If you would like to utilise the Lifetime Financial Planning Service, please contact Michelle Blacktop on michelle.blacktop@lifetime.co.nz or 027 289 5440, who is your dedicated Group and Employee Benefits Specialist. Michelle will arrange for a Lifetime Financial Adviser to get in contact with you.
It is important to make sure that your investment strategy remains appropriate.