Invest Blue and Russel Investments have partnered to launch a new managed portfolio through AMP's MyNorth platform.
AMP said the Cornerstone Managed Portfolios was created to respond to increased adviser and investor demand for transparent, personalised investment solutions, and growing demand for lower-cost, actively managed portfolios.
Aligned AMP advice practice, Invest Blue, collaborated with AMP and Russell Investments to design and build the new offer, which includes four separately partnered managed portfolios.
Shaune Egan, AMP's director wrap product, said the new offer reflects AMP's ongoing commitment to establish MyNorth as the leading wrap platform in the Australian market.
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"Our strategy for MyNorth is anchored to three objectives - cost effectiveness, seamless administrative functionality and unrivalled investment choice," Egan said.
"This new offer continues the delivery of this strategy, supporting advisers in providing clients with tailored, cost effective portfolios, constructed and managed by a leading investment manager."
Invest Blue's managing director David Stephen said: "The new portfolios strengthen Invest Blue's value proposition, providing clients with access to bespoke, high-quality, transparent investment options."
Managing director of Russell Investments Australia, Jodie Hampshire, said: "We are seeing increased demand from many financial advice licensees and large practices for independent, world class investments, packaged and structured to suit specific client needs."
The new offer will expand MyNorth's partnered managed portfolio range following the launch of portfolios with advice practice, the Weinberg Private Group and other independent advice practices in 2019.