Every Game AMP plays….they lose..comment., page-12

AMP CEO Alexis George expresses her disappointment after Mirvac overnight won control of the wealth manager's flagship $7.7bn wholesale office fund.

"The result last night was extremely disappointing. The Wholesale Office Fund is one of the best performing funds over the last three years in that sector," George tells Allan Gray's Simon Mawhinney on Tuesday.

"Together with Dexus we put a compelling offer on the table… but I respect the vote of the investors," she says.

The property developer and funds manager won a resounding vote on Monday and will take over the running of the AMP Capital Wholesale Office Fund after a long battle in which it garnered the support of key superannuation fund investors.

Mirvac won the backing of about 60 per cent of the vote, with about 29 per cent against it taking over the fund, as some investors abstained.

"I don't think anyone was naive about this outcome. We’ve been working really hard knowing it was going to be close. I dont think there’s skill shortages inside (the team), I’ve never heard of deficiencies in the team," George says.

"I’ve spoken to many investors in the past few months… at the end of the day they believe they want their assets with a different manager. While I’m incredibly disappointed, I have to respect the decision."