AMP launches online funds supermarket

AMP launches online funds supermarket

Australian financial services company AMP has launched Ample, an online investment supermarket for UK consumers, featuring a combination of tailored and targeted information and a choice of 400 funds from 22 managers.

AMP says the new service is targeted at consumers in the 45-65 age range, who are investment savvy but relatively new to transacting financial services online. The Internet facility will be backed up by a telephone support service.

Joanna Varley, global director, e-business at AMP, says the UK launch will act as a model for the development of similar portals Europe-wide.

She adds: "Ample has been developed to fill the gap in the existing online investment market. It wraps a highly customised service around a transactional capability that offers real value. In the future Ample will be developed in the UK as a channel for direct sales and IFA markets."

The Ample supermarket is billed as the only ISA supermarket to provide online access to all seven of the largest fund managers. Ample says it will charge a one per cent fee "for the majority" of the 400 funds on offer.

A fund selector service is available to assist consumers with researching and shortlisting. The shortlist can contain seven funds from up to seven fund managers, which can then be wrapped into a single Ample ISA.

Ample is also offering consumers a portfolio management service - Ample Managed Investments (AMI) - which will be run by John Husselbee at Henderson Global Investors.

AMP says the ultimate intention is for investors to utilise Ample as a comprehensive end to end investment service, managing and consolidating all their investments online, as well as accessing tailored research and information provided by AMP and third parties such as AFX and Citywire.

Online share dealing and a transfer service will be rolled-out throughout the remainder of the year, says AMP.

Head of marketing and proposition at Ample, John Blowers, says: "The downfall of first generation online investment has been that investors have had to use a combination of sites. Hence, Ample has been designed to bring together high quality, content and transactions in a straightforward manner, allowing people to manage their own wealth, personally, effectively and via one portal."

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