Ann: AMP updates position on capital and costs, page-12

Fund managers arent only expressing an opinion they are exercising their rights as part owners of the busiess and custodians of their clients wealth. With this in mind they are obligated to ensure that management are doing their best to release as much value as possible for shareholders of the company. 

That may be true but the insurance is business is supposed to be a key element of the AMP business. If they are going to focus on high growth non core businesses they should hive them off into a new vehicle instead of selling a key business for a real value of 0.62 times embedded value.

In terms of distraction you need to remember that the management team are paid handsomely not to be distracted and the business has had more than enough revenue to allocate resources to various divisions. I think you may be giving a woefully performing management team a free pass on this issue.