AMP Capital Investors has increased its allocation to Australian small cap manager Eley Griffiths, which is part of AMP's Future Directions Australian Small Companies Fund.
The boutique manager had initially closed its fund to new funds. However, it made new capacity for the Future Directions fund.
Eley Griffiths joins AMP Capital Investors, Kinetic Investment Partners and Perennial Investment Partners. Each firm now manages 25 per cent of the portfolio.
The firm has also boosted its exposure to the small companies fund in its Australian shares portfolio. As a result, the Future Directions Australian Share Fund will have an 8 per cent allocation to the small companies fund, up from 5 per cent.
"We are positioning our small companies portfolio to take advantage of the changing economic landscape, particularly from the recent rally we have seen in the Australian sharemarket," AMP Capital Investors senior investment specialist David Dix said.
"All our small-cap managers are focussed on quality stock selection. The changes to our small companies portfolio are in response to what we now see as the light at the end of the tunnel."
