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AMP bolsters managed portfolios offering

AMP is responding to increased demand for managed account solutions, expanding North's offering as assets under management surpass $5 billion.

The proportion of North's AUM held in managed portfolios has increased more than 140% in the past 12 months, AMP said.

AMP will add three new equity-based portfolios to the platform in the coming weeks. These are the Research Australian Equity Portfolio and the Research Australian Equity Income Portfolio managed by North's research team, and the Elston Australian Large Companies Portfolio managed by Elston Asset Management.

This will bring the total number of portfolios available on the platform to 67.

Investment Trends recently found that 53% of advisers in Australia are using managed portfolios with their clients. This is an increase from 44% in 2021 and 40% in 2020.

The research also shows that advisers who use managed portfolios are now utilising the solution for 60% of their clients, up from 44% in 2021 and 33% in 2019.

AMP director of platforms Edwina Maloney said the evidence is clear that managed portfolios are now the preferred way for most advisers to support the investment needs of their clients.

"Our priority as a platform is to ensure North's managed portfolio range provides expanding choice across investment styles and asset classes, and that we continue to partner with the industry's leading investment managers," she said.

"As we strengthen our managed portfolio offer, we'll also continue to build North's wider investment choice, as evidenced by these further additions to the menu. In total, we've added more than 63 investments since the start of 2022.

"We're also keeping fees extremely competitive and enhancing North's tech capability, including the recent launch of our client app."

Read more: NorthAMPEdwina MaloneyElston Asset Management