AMP has announced that it would maintain AXA North and AMP Flexible Super as part of its product and platform plans for the AXA/AMP merger.
AMP’s SignatureSuper would be its medium and large corporate superannuation product, while AMP Flexible Super would target small to medium businesses, the group added.
AMP would continue to invest in its two distinctive insurance offerings — AMP’s Flexible Lifetime Protection and AXA’s Elevate — to ensure they remained competitive, AMP stated. However, within the next two years the company would build a new retail insurance product range that would take the best attributes of the two current offerings.
AMP and AXA’s group risk products would remain, while the group aimed to enhance AMP’s group risk offer that supported AMP’s mastertrust superannuation product and invest in AXA’s stand-alone offer to capitalise on profitable growth opportunities.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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