Using the most recent returns and fund update reports from the Quarter Ended June 2022, we will examine AMP's recent KiwiSaver Performance.
The Australian Mutual Provident Society (AMP) was formed in 1849 and offers a number of different services such as providing financial advice, superannuation, retirement income, banking and investment products. AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme, which has 146,458 members with $5.8 billion invested.
In the recent quarter, geopolitical events, primarily Russia’s invasion of Ukraine and the Covid-19 pandemic, have increased uncertainty for investors. These negative economic impacts have caused interest rates to rise and put pressure on inflation. Therefore, share markets worldwide have remained volatile, causing concerns for investors, which can be seen in this quarter's returns.
Table of Contents
News about AMP
Performance of AMP KiwiSaver Funds
AMP Cash Fund
AMP Conservative Fund
AMP Moderate Fund
AMP Balanced Fund
AMP Growth Fund
AMP Aggressive Fund
In recent news, AMP Wealth Management reported a net profit after tax of $42 million for the fiscal year ending 31 March 2021. This was an increase of 11% in comparison to the fiscal year 2020. However, in FY21, the assets under management of $12.9 billion decreased to $12.5 billion (-2.7%) from FY20. Blair Vernon, Chief Executive of AMP Wealth Management, said this decline is because of the challenges from Covid-19 and underperforming investment markets.
In June 2021, AMP reported a new investment approach with implementing more emphasis on sustainable investing. By focusing their attention on this, AMP reduced fees for their KiwiSaver Scheme by up to 40%.
|
1 Month |
3 Month |
1 Year |
3 Year |
5 Year |
10 Year |
|
|
Cash |
0.21% |
0.51% |
0.78% |
0.45% |
0.90% |
1.71% |
|
Conservative |
-1.39% |
-1.09% |
-7.85% |
-0.49% |
1.89% |
3.49% |
|
Moderate |
-1.26% |
-1.09% |
-8.62% |
0.30% |
2.66% |
4.42% |
|
Balanced |
-1.17% |
-1.21% |
-9.53% |
1.77% |
4.05% |
5.98% |
|
Growth |
-0.96% |
-1.13% |
-9.94% |
3.22% |
5.38% |
7.35% |
|
Aggressive |
0.81% |
-1.08% |
-10.10% |
3.63% |
5.80% |
8.01% |
Sourced from AMP fund performance report.
* These returns are to 31 August 2022 and are before tax and after fund management fees. Past performance is not necessarily an indicator of future performance, and return periods may differ.
Note: The following information is sourced from AMP Quarterly Fund updates published on 31 August 2022.
This cash fund aims to achieve modest, stable returns with a very low level of investment risk by investing in a single-sector fund that primarily invests in cash and short-term deposits. The Cash Fund has a 1-month return of 0.21% and a 1-year return of 0.78%, lower than the 10-year return of 1.71%.
*The following is Sourced from AMP Cash Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Cash Fund are 0.57% yearly.
Investment mix
The investment mix is 100% cash and cash equivalents due to being a Cash Fund.
Top ten investments
This table shows AMP’s top 10 investments in the Cash KiwiSaver Fund, which comprise 53.34% of the fund.
The AMP Conservative Fund aims to provide exposure to a portfolio of lower-risk income assets with a conservative allocation to growth assets. Therefore, the objective is to provide modest to medium returns. The Conservative Fund has a 1-month return of -1.39% and a 1-year return of -7.85%, lower than the 10-year return of 3.49%.
*The following is Sourced from AMP Conservative Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Conservative Fund are 0.86% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows AMP’s top 10 investments in the Conservative KiwiSaver Fund, which comprise 22.94% of the fund.
The AMP Moderate Fund aims to provide exposure to a portfolio of lower-risk income assets with a moderate allocation to growth assets. Therefore, the objective is to provide modest to medium returns. The Moderate Fund has a 1-month return of -1.26% and a 1-year return of -8.62%, lower than the 10-year return of 4.42%.
*The following is Sourced from AMP Moderate Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Moderate Fund are 0.90% yearly.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows AMP’s top 10 investments in the Moderate KiwiSaver Fund, which comprise 20.14% of the fund.
The AMP Balanced Fund aims to provide exposure to a portfolio of growth assets and an allocation to lower-risk income assets. Therefore, the objective is to provide medium returns. The Balanced Fund has a 1-month return of -1.17% and a 1-year return of -9.53%, lower than the 10-year return of 5.98%.
*The following is Sourced from AMP Balanced Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Balanced Fund are 0.92% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows AMP’s top 10 investments in the Balanced KiwiSaver Fund, which comprise 16.43% of the fund.
The AMP Growth Fund aims to provide exposure to a portfolio of growth assets diversified with a lower allocation to lower-risk income assets. Therefore, the objective is to provide medium to high returns. The Growth Fund has a 1-month return of -0.96% and a 1-year return of -9.94%, lower than the 10-year return of 7.35%.
*The following is Sourced from AMP Growth Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Growth Fund are 0.93% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows AMP’s top 10 investments in the Growth KiwiSaver Fund, which comprise 13.84% of the fund.
The AMP Aggressive Fund aims to provide exposure to a portfolio of growth assets with a low allocation to income assets. Therefore, the objective is to provide high returns. The Aggressive Fund has a 1-month return of 0.81% and a 1-year return of -10.10%, lower than the 10-year return of 8.01%.
*The following is Sourced from AMP Aggressive Fund Update.
Returns
Fees
The total annual fees for investors in the AMP Aggressive Fund are 0.96% per year.
Investment mix
The investment mix shows the type of assets that the fund invests in.
Top ten investments
This table shows AMP’s top 10 investments in the Aggressive KiwiSaver Fund, which make up 15.31% of the fund.
Data for AMP KiwiSaver funds have been sourced from AMP KiwiSaver Funds. Past performance is not necessarily an indicator of future performance, and return periods may differ.
To see if AMP has the appropriate fund that aligns with your values, retirement goals and situation, complete National Capital’s KiwiSaver Healthcheck.