An Australian fund manager with mandates from a string of leading superannuation funds is continuing to offload its exposure to AMP. In a filing to the ASX on Tuesday, Allan Gray Australia (AGA) revealed that it was no longer a substantial shareholder in the underperforming financial advice and banking provider. The announcement is significant given that AGA maintained the largest holding in AMP throughout its governance crises of the last four years. In 2020, AGA was managing almost 228 million AMP shares on behalf of a raft of super funds including Australian Super, CBUS, REST, Equipsuper and HostPlus. This equated to around 6.6 per cent of the ordinary stock of the company. But following consistent selling over the last 12 months, the fund manager’s holding has fallen to under 140 million shares. Since February, AGA has offloaded more than 40 million AMP shares worth A$43.6 million.