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
Michael Lovett, who left the investment firm just three months after launching its Vanguard Super offering, has taken up a chief executive role at an Australian asset manager.
The Central Bank of Ireland has granted the approval of Equity Trustees’ exit from its Irish operations, with the transaction expected to be complete on 30 April.
Super returns continued to climb in March, raising hopes of delivering double-digit returns by June depending on the performance of this next quarter.
The dedicated super fund for emergency services and Victorian government employees is under fire for unpaid entitlements to transport employees, which could exceed $40 million.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment