Wellington, Oct 8 NZPA - Jason Wong, director of economics and strategy at First NZ Capital, is moving to the "buy side" of capital markets with his appointment today as head of investment strategy at AMP Capital Investors.

Mr Wong was still at work doing his old job today as there was no conflict. Fund managers are the buyers of equities so at AMP Mr Wong will for the first time be enacting his advice.

The appointment is effective from November 24. He replaces Leo Krippner, who is moving to a position at the Reserve Bank.

Murray Gribben, managing director of AMP Capital Investors, said Mr Wong will manage the asset allocation of AMP Capital's diversified funds and work closely with the New Zealand fixed interest and equities teams.

AMP Capital has more than $10 billion of funds under management.

For the quarter to September 30, AMP Capital's conservative diversified fund returned 2.2 percent, and 4.3 percent for the year; its balanced diversified fund returned -2.2 percent or -6.8 percent for the year; and its growth diversified fund returned -6.5 percent, or -15.2 percent for the year.

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