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.
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
According to the industry body, funds should have an obligation to transfer members in failing products to better-performing products in a timely way.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
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