The AMP Ltd (ASX: AMP) share price is in focus this morning amid reports the company's struggle to keep hold of AMP Capital Wholesale Office Fund (AWOF) will heat up next week.
According to reporting by The Australian, the $7 billion fund's management prospects are being evaluated by an independent committee. The committee's findings are set to be tabled next week.
As of the end of yesterday's session, the AMP share price is $1.18.
Let's take a closer look at what could weigh on the market's assessment of AMP in the near future.
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AMP share price on watch amid AWOF concerns
The AMP share price might be one to watch on Wednesday as it supposedly readies itself to fight to keep control of Australia's best performing office fund of the last 3 years.
As The Motley Fool has previously reported, AMP is said to be at risk of losing control of the fund on the back of AWOF investors' worries. On the day news of the management challenge broke, the AMP share price hit an all-time low.
The independent committee's review will be handed to AWOF's board's trustee, alongside a review by investment group Jarden Australia.
However, the final word on a change of management will come from AWOF's investors. And that might be AMP's undoing.
The Australian reportedly believes enough investors have vowed not to support AMP's continued management of the fund if they were asked to vote. AMP needs support from 75% of the fund's investors to stay at its helm.
The publication claims the fund is a cornerstone asset of AMP Capital. Thus, losing control of it could hamper the business' upcoming demerger.
It also reports AWOF's investors are concerned the demerger would leave AMP Capital vulnerable to a takeover. If the business was acquired, the fund would be left to be managed by a non-elected body.
AWOF holds several iconic assets in its books, including Sydney's Quay Quarter and Melbourne's Collins Place.
The AMP share price is currently 5% higher than it was this time last month. Though, it's still 24% lower than it was at the start of 2021.
