AMPAM complements index management with active management
AMP Asset Management's listed international index fund WiNZ has continued its exponential growth and is now larger than the total assets under management of 30 of the 40 New Zealand fund managers.
Friday, July 7th 2000, 12:00AM
AMPAM managing director Murray Gribben says the fund has recently passed the $1.7 billion mark, just six months after cracking the $1 billion barrier.
The only managed fund in New Zealand which is bigger than WiNZ is the $2.1 billion Bonus Bond Trust which is owned and managed by ANZ Funds Management.
Gribben says now WiNZ is this big the manager is reducing the minimum entry level on the fund from 3000 to 1000 units. While this is a significant drop in the minimum number of units the dollar value of the change is smaller. WiNZ originally listed at $1.10 a unit two years ago making the minimum investment $3,300, now the unit price is at $2.28 so the minimum dollar investment is $2,280.
AMPAM is also on the verge of rolling out a group of actively managed international fund run by UK-subsidiary Henderson Investors.
The range of sectorial and regional UK-listed trusts is likely to include the Henderson Technology Fund and the Henderson Ethical Fund.
AMPAM says it hasn't finalised the range of products yet, however it is expecting launch them into the New Zealand market in late July.
The funds are being promoted here as unlisted UK unit trusts.
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