Australian financial services company AMP to halt long-term US investments

6 hours ago 1

One of Australia’s top asset managers has reportedly frozen new long-term investments in the US, citing mounting uncertainty over President Donald Trump’s policies.
AMP Ltd.’s (OTCPK:AMLTF) main concern is a proposal to lift taxes on US income of non-US businesses as part of Trump’s sweeping domestic policy legislation, Head of Portfolio Management Stuart Eliot told Bloomberg in an interview.
Roughly a third of the pension and wealth firm’s A$135 billion ($88 billion) of assets under management are US-domiciled, he said.

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