The AMP Capital LIBOR transition project concluded on 31 December 2021 as planned after successfully managing the switching of the vast majority of the LIBOR exposures to their respective alternative reference rates.
The project team has formally passed the transition responsibility, governance, and oversight for the remaining residual exposures to AMP Group and the relevant investment teams who have direct governance responsibilities, supported by comprehensive project handover documentation.
The residual exposures:
- Are consistent with the current status of the market where USD LIBOR tenors will continue until June 2023
- The timing of the switch will necessarily have to be consistent with the broader market consensus to avoid increased risks to our clients and therefore remain in their best interests.
- All exposures are identified to the security level with the appropriate strategy and oversight agreed for each with the relevant investment team.
Contact for further information:
- Your AMP Group client services or investment team
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