AMP Henderson keeps four stars

By Phil Boeyen, ShareChat Business News Editor

Tuesday 22nd May 2001

Research agency Morningstar has left the status of AMP Henderson Global Investors unchanged after the fund's recent restructuring.

The agency says recent changes at the country's largest fund manager prompted a review of its rating but it has not made any change to the funds four-star status.

Morningstar says the loss of former head of New Zealand equities, Stephen Walker, from the fund is certainly a loss, although notes the rest of the team remains.

Mr Walker left the organisation after the restructuring was announced.

AMP Henderson's new structure integrates the previously separate fixed interest, equity and investment strategy teams into a single investment operations group. It has appointed Chris Wozniak as chief investment officer.

Morningstar says the decision to separate business issues from investment management through a dedicated CIO is a sound one, although it's too early to tell how much cost/benefit will come from the restructure.

The research firm says its qualitative analysts are currently working on a partial qualitative assessment of AMP, which is due for release next month.

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