Following the re-do, Boston Partners and C WorldWide (formerly known as Carnegie) have been granted new core global equity mandates accounting for 35 per cent and 15 per cent, respectively, of the A$550 million AMP fund.

The change also saw AMP cut the Investec 4Factor Global Equity allocation while bumping up exposure to the other incumbent manager, Lazard. Under the new mandate, Lazard, which manages 40 per cent of the total fund, will move from a developed world benchmark to the MSCI All Country World Index after expanding its portfolio reach into emerging markets.

Despite losing the core global equities spot, Investec retains a role in the AMP fund with its 4Factor Emerging Markets strategy. The core international shares product targets a 10 per cent exposure to the AMP Capital Emerging Markets RIL fund, which splits management duties between Investec and the Colonial First State-owned Stewart Investors.

Read full article here.