We have recently received correspondence from AMP Capital Investors about some changes to the Investment Guidelines of several of the funds they offer, which we have summarised below for those funds offered via RaboDirect.
The changes have been approved by the Trustee and are captured in the latest AMP Capital Investment Fund Investment Statement (dated 29 July 2011) which is available on the RaboDirect website.
Index change for the AMP Capital Responsible Investment Leaders Global Shares Fund
AMP Capital has changed the benchmark for the Fund from the MSCI World Accumulation Index to the MSCI All Country World Index. The change was a result of a recent review which identified that the MSCI All Country World Index more closely reflected the total underlying country allocation of the Fund. The new index also offers greater diversification and investment opportunity through its broader investment universe, with exposure to both developed and emerging markets.
Index change for the AMP Capital Extended Markets Global Shares Fund
The Extended Markets Global Shares Fund has also replaced one of its indices with a new index that better reflects the composition of the Fund covering the global small caps market. The index has changed from the Citigroup Extended Markets Index to the S&P Developed Small Caps Index.
Performance measurement changes - Global Funds
To reflect the longer term outlook being taken by the managers of the funds, a number of AMP Capital's global funds are changing the period over which performance is measured. The gross return measurement has been changed from a rolling 12 month basis to a rolling three year basis for the AMP Capital Global Shares Fund, AMP Capital Hedged Global Shares Fund, AMP Capital Core Global Shares Fund and the AMP Capital Hedged Global Fixed Interest Fund. In addition, the gross return measurement has been changed from a rolling three year basis to a rolling five year basis for the AMP Capital Responsible Investment Leaders Global Shares Fund.