Probe into AMT clients’ funds

The Central Bank has contacted the providers of investment products to Asset Management Trust (AMT) to check the balances of clients’ investments following the highly unusual move by the regulator to freeze the accounts of a firm that is not authorised to handle client money.

AMT is one of the country’s largest independent investment firms, advising in the region of 280 clients with assets valued at between €28m and €30m under management.

A spokesperson for the Central Bank said an investigation was ongoing and in the interests of protecting clients it was writing to the overall providers of financial products sold by AMT to check the value of AMT’s client funds.