AMP Says Superannuation Fund Delivers Another Year of Double-Digit Returns

MT Newswires Live

Jul 02

AMP (ASX:AMP) said its AMP Super fund delivered top quartile returns of more than 11% for most of its members for the year ended June 30, marking its third straight year of double-digit returns, according to a Thursday statement.

Members invested in the default MySuper 1970s and 1990s life-stage investments received returns of 11.3%, while those in the default MySuper 1980s got returns of 11.2%, the company said, noting that around 80% of MySuper members are invested in these options.

Meanwhile, AMP's Future Directions High Growth choice option delivered returns of over 12%, as portfolios "benefited from the structural momentum behind AI-themed exposures and have shown resilience through the March sell-off and ongoing geopolitical uncertainty," the company said.

AMP shares fell 1% in recent Thursday trade.

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