AMP will launch two MySuper products next year, with the financial services giant becoming the fourth institution to gain MySuper approval from the Australian Prudential Regulation Authority.
AMP joins the Commonwealth Bank of Australia’s wealth arm, Colonial First State, insurer Suncorp and Westpac’s BT Financial Group plus around 55 industry, government and corporate super funds, according to APRA’s website.
AMP Financial Services will offer its corporate super clients a new lifecycle fund, which will be actively invested according to the decade of a member’s birth and adapted to meet their needs at each stage of life. 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 longterm investment needs.
The funds will be available from January 1, 2014 and draw on the investment management expertise of the group’s internal funds manager, AMP Capital.
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