AMP claims retail super leadership
AMP Limited has claimed market leadership in retail superannuation and pensions.
Announcing its half-year results to the Australian Securities Exchange (ASX) today, the company said that it based its market leadership claim on holding 20 per cent market share in the sector.
As well, the company said that it had recorded some significant corporate super wins during the half, picking up 16 new small to medium and large corporate mandates over the period.
The AMP half-year report made clear the importance of the company's corporate superannuation business, including with respect to its MySuper strategy.
It noted that it had contacted more than one million customers and 100,000 employers informing them of the company's new MySuper solutions as well as providing face-to-face training for more than 1,700 corporate superannuation advisers.
It said that approximately $13 billion of assets under management within the AMP wealth management business was classified as default business as defined by the MySuper regulations.
Recommended for you
A hawkish post-meeting RBA has cast doubt over the possibility of another rate cut in 2025.
Super funds are being urged to do more to protect older women from financial insecurity as life events widen retirement gaps.
The central bank has announced the official cash rate will remain at 3.6 per cent following higher-than-expected inflation figures.
Equip Super has appointed Michelle Cheong as chief risk officer, strengthening its governance framework with nearly two decades of industry experience.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
3
DomaCom DFS Mortgage
67.30 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
