Amp Limited have raised a staggering $2.4 billion US dollars at the close of their global infrastructure program, giving their shareholders confidence for the companies long term future.
AMP Limited (ASX:AMP) is an Australian company specializing in providing financial services. Some of its products include investment, banking, insurance and offering financial advise. The banking products include loans and savings. The company was formed in 1849 as a mutual society and a non profit insurance company. It was listed on Australian Stock Exchange in 1998. Since then it has grown to an extent of having one of the largest Australian shareholder register. Today’s share price is 5.00 AUD a slight increase of 0.2 percent from the previous day.
Being one of Australia’s biggest asset managers, AMP has more than 128 billion Australian dollars of assets under its management. It is also one of the largest asset managers for the entire of the Asia Pacific region. It has four main business areas which include banking, insurance, customer solutions and AMP Capital. AMP Capital recently announced that they had raised a total of 2.4 billion US Dollars at the close of their global infrastructure program. The company had targeted to raise 2 billion dollars but went on to raise more than its target. More than 50 investors (mainly institutions) committed to this global program. The purpose of this program is to bankroll high quality assets so as to offer the best comparative value.
The global infrastructure program has attracted many investors from countries like UK, US, Japan, Canada, Belgium, Spain, Finland, Denmark, Ireland and the Middle east. Making the announcement, the head of the program Boe Pahari, expressed how proud they feel to have managed to capture some of the world’s best opportunities. The level of confidence in their products is shown by the investors response to their infrastructure fund is a great achievement for this Australian company. They are optimistic to secure attractive set of investments based on their expertise in asset management. The global infrastructure program was created by converting the SITE (Strategic Trust of Europe) program from open ended to closed ended. Some of the investments that were under the SITE program like the Newcastle Airport were key to the great success of the global infrastructure fund.
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