AMP Capital Investors’ Future Directions funds and Responsible Investment Leaders Funds have dumped Mercer as their asset consultant.

Towers Watson has been appointed in place of Mercer, according to documents and a person familiar with the matter.

Mercer had been advising the AMP funds for eight years. The AMP funds manage about $19 billion.

AMP Ltd., the parent of AMP Capital, has merged with AXA. Towers Watson has been advising Ipac’s diversified funds, formerly a unit of AXA, since 2006.

AMP’s Future Directions funds, launched in 2003, had a somewhat aggressive asset allocation under Mercer. It had higher than asset allocation to global stocks and so-called alternative investments that include private equity and infrastructure.

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