AMP MySuper offers approved by APRA

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APRA approves AMP's MySuper.

APRA approves AMP’s MySuper.

AMP will launch its two MySuper offers from 1 January 2014, following approval from the Australian Prudential Regulatory Authority.

AMP Financial Services will draw on the investment expertise of AMP Capital to offer two My Super investment options; a lifecycle option and a balanced diversified option.

The AMP Lifecycle option, which will be available to its Signature Super customers who are mainly large to medium businesses, will provide a whole of working-life solution for customers who will be invested according to the decade of their birth, with active investment strategies in place to adapt to each stage of life.

This means regardless of an employee’s level of engagement, employers can confidently offer their employees a targeted solution to help fund their retirement needs.

AMP Financial Services Managing Director Craig Meller said the investment approach will be actively managed and draw on the investment management expertise and investment insights of AMP Capital to provide a superior lifecycle option in the market.

“AMP’s lifecycle funds will offer targeted strategies and varied exposure to assets including shares, property and infrastructure in accordance with their age profile.

“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,” Mr Meller said.

AMP will also offer a balanced option called the AMP My Super Balanced for its AMP Flexible Super retail customers. This will be a balanced fund offering customers a simple solution to meet their long term investment needs, at a very competitive price.

“While markets have been through a challenging few years, AMP has always said superannuation is the best investment you can make for the long term and we are confident these new options will support the long term retirement goals of our customers,” Mr Meller concluded.

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