AMP Financial Planning (AMPFP) is ramping up scrutiny of the managers it recommends with an extensive round of visits to the international and Australian product providers on its approved list.

An AMP spokesperson said the financial planning group’s researchers have been meeting face-to-face with managers over the last month to gather information that will “feed into” future decisions on its approved list. The process should be completed by the end of this month. However, the spokesperson said it was unlikely any immediate changes would be made to the AMPFP product list as a result of the visits. “It’s just an opportunity to meet the managers,” the spokesperson said. “There are 40 different fund managers on the list but some of them will have different options and different management teams (for example, equities, fixed interest, etc), so it might be that there will be more than 40 meetings.” He said the current round of manager interviews would support the group’s regular review process which includes ongoing monitoring of fund manager ratings and data and research from external providers Mercer and Morningstar. The AMPFP approved list includes local managers such as BT and Colonial First State and international managers Nicholas-Applegate and RCM Capital Management. The AMP spokesperson also confirmed industry funds would not be reappointed to the group’s approved list. AMPFP had added 11 industry funds to its approved list in 2004 but later removed them.

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