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AMP enters MySuper market
The Australian Prudential Regulation Authority (APRA) has approved two MySuper options from AMP which will be offered from 1 January 2014 and draw on expertise from the bank’s funds management arm, AMP Capital.
A lifecycle option based on target dates will be offered to its medium- to -large business clients currently on Signature Super, while a balanced diversified option will be available to AMP Flexible retail clients.
“AMP’s lifecycle funds will offer targeted strategies and varied exposure to assets including shares, property and infrastructure in accordance with their age profile,” AMP chief executive Craig Meller said.
“As customers move through their working life towards retirement, their portfolios will be managed with an increasing focus on protecting capital while still aiming to deliver solid risk-adjusted returns to help support them in retirement.”
Meller said he was confident the investment options could support the long-term retirement goals of its customers.
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