3 into 1 does not work?

AMP has 3 relatively distinct businesses which are at different points of growth cycle, profile risk, investment needs and market perception. normally this type of model can have large diversification benefits for longer term investors e.g. think Macquarie. unfortunately 1 of the 3 is in a very distinct position of need which dominates the headlines, group financials and risk appetite. There is a strong case for spinning out the parts over time to provide immediate measurable value to investors as well as allowing those that want to keep the wealth story in tact to retain this piece. AMP Capital has its own board, entity, etc so creating an ASX listing and passing through ownership to current investors through a share issue is a realistic strategy with value creation at its centrepiece. Why not? All IMO.