POWERED BY MOMENTUM MEDIA
AMP reduces products and cuts fees
AMP super products will be simplified from 11 to three with its MySuper fees to have an average reduction of 8% and Choice fee average reductions of 29%.
Effective from 1 October, 2021, the reduction to MySuper fees followed reductions in 2020 and 2018 after AMP started its super simplification program.
Scott Hartley, AMP Australia chief executive, said it was important for members to have low fees, good performance and excellent member services that helped them to make the right decisions to build for their retirement.
“Our goal is to continually improve the experience of members, and the financial advisers who support many of them,” Hartley said.
“We know how important and valued our member services are. Particularly through Covid we have seen a strong increase in members wanting advice and support with their finances.
“This year there was a 200% increase in people accessing our free online financial education content. Giving members access to free financial information is critical to helping them to make good decisions in order to meet their retirement goals.”
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
