16 April 2020
The COVID-19 coronavirus has caused significant volatility in financial markets, so we've taken some actions to ensure a fair approach for clients entering and exiting our funds.
AMP Capital's multi-asset group, which manages funds for AMP superannuation customers, has conducted a review of the unlisted assets it manages across infrastructure, property and private capital.
Following the review, AMP Capital has reduced valuations across private capital assets (-17%), unlisted property (-2% to -7.5%), and unlisted infrastructure (-6%).
What this means for clients
This revaluation will have a minimal impact on the investment performance within superannuation accounts, ranging from approximately -0.01 to -1.4 %. And our multi-sector funds are well diversified, generally having a lower weighting toward illiquid assets than others in the industry.
Ensuring a fair approach for clients
The revaluation of an asset simply means that its value is either increased or decreased to better reflect the underlying market value.
Unlike listed securities, which are priced continuously, unlisted assets are priced only periodically (typically monthly, quarterly or annually), which is why more frequent valuations are needed during volatile periods when market values move significantly.
We're here to help
If you have any questions, please contact us or speak to your financial adviser.
If you're experiencing financial hardship due to the impact of COVID-19, we may be able to assist you. Find out more on our COVID-19 support page.
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