Challenge for AMP over pay, fund deal

Original article by Joyce Moullakis
The Australian – Page: 17 : 26-Apr-21

AMP’s proposal to spin off its private markets division is set to be a key focus of its virtual AGM on 30 April. Brett Le Mesurier of Velocity Trade has downgraded his share price target for AMP in response to the demerger proposal, which followed AMP’s decision to terminate negotiations with Ares Management over a full or partial sale of the business. Meanwhile, two proxy advisers have recommended that shareholders vote in favour of AMP’s remuneration report, while ISS has called for investors to reject it.

CORPORATES
AMP LIMITED – ASX AMP, ARES CAPITAL MANAGEMENT LLC, INSTITUTIONAL SHAREHOLDER SERVICES INCORPORATED

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