AMP has decided to bring the management of $5.78 billion in fixed-income assets held in a number of superannuation and pension fund options in-house.
"As part of the work to bring Axa and AMP together, we have decided to transition the investment management of the fixed-income assets ... in-house to AMP Capital," the company said.
The assets were previously managed by external managers, mostly by AllianceBernstein.
The decision affects various options in the Super Directions, Simple Super and Tailored Super funds.
It also affects fixed-income funds, including the Prosperity Bond and Savings Bond, managed investment plan and secure investment bond funds.
On the pension and annuity side, the decision has an impact on the Flexible Annuity Plan, Flexible Pension Plan and Retirement Directions Allocated Pension Plan.
