AMP MySuper delivers return of 9.1%

Oksana Patron

20 July 2023

AMP MySuper has delivered a return of 9.1% for members of its 1970s superannuation fund option for the year to 30 June, 2023.

The 1970s option used a balanced growth asset allocation and was the largest by funds under management.

The firm also said that members born in the 1980s and 1990s and with exposure to a higher growth asset allocation achieved higher returns of 9.4% and 9.7%, respectively, for this financial year.

According to Anna Shelley, AMP’s chief investment officer, the returns demonstrated that AMP’s Lifecycle MySuper was working for its members as its younger members – those born in the 1990s, 80s and 70s – all achieved returns in excess of 9%.

“These portfolios intentionally have higher exposure to growth assets like shares, property and infrastructure,” she said.

“We’ll continue to prudently and actively manage our investment portfolios for members, ensuring diversification across asset classes, with appropriate liquidity and exposure to unlisted assets.

“With a relatively lower weighting to unlisted assets we see opportunity to take advantage of buying opportunities as valuations continue to decline in the coming months.”