Invest Blue has collaborated with AMP and Russell Investments to design and build the offering, which includes four separately managed portfolios.
The groups declared their partnered products, Cornerstone Managed Portfolios, will be a response to increasing adviser and investor preference for transparent and personalised investment solutions, as well as lower-cost, actively managed portfolios.
Jodie Hampshire, managing director of Russell Investments Australia reported increased demand from advice licensees and large practices for “independent… investments, packaged and structured to suit specific client needs”.
AMP director of wrap product, Shaune Egan said the launch reflects AMP’s efforts to establish MyNorth as a leading wrap platform in the Australian market.
“Our strategy for MyNorth is anchored to three objectives – cost-effectiveness, seamless administrative functionality and unrivalled investment choice,” Mr 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.
“Advisers and clients will benefit from centralised trading teams and strong investment governance processes which minimise risk and support practice profitability.”
The new offering will expand MyNorth’s partnered managed portfolio range, following its launches with a number of advice practices last year.
Net cash flows on the North platform increased by 51.6 per cent year-on-year to $2 billion in the first half of 2020, driven in part by continued inflows from external advisers, which rose by 39 per cent to $700 million.
