AMP has appointed a specialist unit of its funds management arm to invest the combined pool of statutory assets resulting from its merger with AXA Asia Pacific.

The multi-asset group, a unit of AMP Capital Investors aiming to develop customised investment strategies, now manages the AMP Statutory Life Funds and insurance provisions of AXA, a spokeswoman for AMP Capital confirmed.

This makes redundant the role of Gerald Naughton, an AMP Capital investment director who oversaw portfolio management, risk management and client services for the statutory funds. Colin Gibson, senior fund manager of AMP Statutory Fund 2, was also made redundant.

AMP Capital manages about $93 billion and has a client services team. It will manage the statutory assets alongside other “internal” money instead of through the legacy arrangement, the spokeswoman says.

Debbie Alliston, head of the multi-asset group, will liaise with Stephanie Weston, AMP’s new director of investment management, to manage the assets.

New roles are being sought for Naughton and Gibson. Both have had long tenures at AMP and its funds management arm. In previous roles, Gibson set up the AMP Capital trust and oversaw performance analytics, according to the company’s website.

AMP merged with AXA Asia Pacific’s Australia and New Zealand business on March 30, 2011.

Simon Mumme became a fnancial journalist through a stroke of luck. Upon graduating with a Master of Journalism from The University of Queensland in 2006, he set out to fnd a news organisation that would employ him as an overseas correspondent or business reporter. Or both, ideally. Conexus Financial hired the bright-eyed cadet, and in the ensuing years he wrote for all of its titles until being appointed editor of Investment Magazine in June 2010. Under his guidance, the magazine continues to dominate the Australian institutional investment media through its authoritative, insightful and engaging feature stories and analysis. Outside of work, Simon trains keenly in Muay Thai kickboxing, revels in the surf breaks fringing the Sydney coastline and reads as much high-quality journalism and non-fiction writing as he can. Committed to his role as a niche business reporter, Simon is aware that an overseas posting as a correspondent still eludes him. He hopes Conexus can help him with that career goal too.
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