Advance has awarded a $177 million mandate to AMP Capital and a $200 million mandate to Aberdeen Asset Management for its Advance Australian fixed interest multi-blend fund.
AMP Capital Investors's head of macro markets Simon Warner said AMP had worked with Advance to design a core Australian bond mandate tailored to its requirements.
"Advance will benefit from our world-class credit capability as well as our unique whole-of-portfolio approach to risk management, and our unrivalled access to research across the major regions of the Asia-Pacific, Europe and North America," Warner said.
The mandate brings AMP Capital's total funds under management to $39 billion.
A review of the Advance Australian fixed interest multi-blend fund managers saw Advance award a further $200 million to Aberdeen Asset Management.
Managing director of Aberdeen Brett Jollie said Aberdeen's strong fixed income track record supported the mandate.
