AMP’s market leading North platform will offer a rebate on term deposit administration fees until the end of the year.
The administration fee rebate will apply to all clients who take out a new North term deposit or roll over a maturing term deposit between 1 August and 31 December 2012.
AMP’s Director Platforms Steve Burgess said while it was important for people to have a balanced portfolio, recent market volatility has seen some investors look to cash as a safe haven.
“We are pleased to be able to offer new and existing North clients a fee rebate. In the current environment an allocation to cash is an attractive option for some clients to help them achieve their long term savings goals,” Mr Burgess said.
“North has seen strong growth in term deposit funds under administration over the past year, jumping from 1.3 per cent to 6.9 per cent of total North FUA between June 2011 and June 2012.”
North term deposits are offered across its entire suite of non-guaranteed super, pension and ordinary money accounts and clients have the flexibility to choose from four leading Australian banks, including AMP Bank, Adelaide Bank, ANZ and Westpac.
North is a complete product and platform offer that gives investors access to a range of quality investments including multi-manager funds, managed funds, online direct share trading, exchange traded funds (ETFs) and exchange traded commodities (ETCs).
The administration fee rebate applies for the duration of the term deposit or up to 31 December 2013.
31 July 2012
