Those SMSF portfolios that AMP are moving have notice periods under the licence agreements with Class ranging from a few months to two years.
The following taken from the Supplementary Prospectus:
Approximately 10,550 Billable Portfolios managed by the AMP Entities possibly to be moved.
As at 30 September 2015, Class had 90,058 Billable Portfolios on its Class Super platform. As at 31 October 2015, this number had grown to 92,857 Billable Portfolios (including the Billable Portfolios managed by the AMP Entities).
In addition, Class grew its Billable Portfolio numbers by:
11,034 between 1 July 2015 and 31 October 2015; and
over 27,000 in the twelve months to 31 October 2015.
The AMP Entities made no net positive contribution to this growth in the number of Billable Portfolios
