AMP KiwiSaver Scheme
AMP Default Fund

In their own words: "The fund has a diversified portfolio that primarily invests in lower-risk income assets with a conservative allocation to growth assets. The fund is limited to a growth asset allocation of between 15% and 25%. The fund aims to preserve the value of your investment and achieve modest returns, in exchange there may be small movements up and down in the value of your investments."

At a glance:

Not Mindful
Type: Conservative fund
Past Returns: 3.74%

Average annual returns over the past 3 years, after fees and taxes. *indicates less than three years of data.

Annual Fees: 0.42%

Annual fees, including membership and % management fee, assuming $10,000 investment.

More information:

A summary of this fund and it's details.

Number FND119
Name AMP Default Fund
Risk profile Conservative fund
Description The fund has a diversified portfolio that primarily invests in lower-risk income assets with a conservative allocation to growth assets. The fund is limited to a growth asset allocation of between 15% and 25%. The fund aims to preserve the value of your investment and achieve modest returns, in exchange there may be small movements up and down in the value of your investments.
Value $1.4B NZD
Members 100,310
Market index description A composite index is calculated using the target investment mix weightings of the underlying market indices that the fund invests into. Additional information about the market index is available on the offer register.
Disclosure Statement Period Sun March 31st 2019
Fund started Mon Oct. 1st 2007
Three-year average return 3.74%
Market index past year return 5.17%
Past year return net charges and tax 3.87
Past year return net of charges gross of tax 4.91
Market index return since fund started 5.32%
Return since fund started net 3.97%
Total annual fund fees 0.42
Total performance based fees 0.0
Manager's basic fee 0.35
Administration charges 0.07
Total other charges 23.4
Total other charges currency NZD

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

The past annual returns for this fund. Please note that higher past returns do not always mean higher future returns.

Year Market Index Fund Annual Return
2019 4.40% 3.87%
2018 3.80% 3.15%
2017 4.16% 4.21%
2016 3.52% 2.35%
2015 8.10% 6.73%
2014 3.88% 3.93%
2013 6.92% 4.61%
2012 3.16% 1.9%
2011 5.06% 3.44%
2010 10.26% 5.54%

The market index is the average NZ KiwiSaver return for funds of the same risk category, sourced from the Commission for Financial Capability's Sorted website. The fund information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

Showing the top 10 investments for this fund:

  • Call Account (Westpac Banking Corporation Advance Acct)
    New Zealand Cash and Equivalents AA
    14.02%
  • Call Account (ANZ 32 Day Constant Maturity Date)
    New Zealand Cash and Equivalents AA
    5.58%
  • Call Account (Rabobank Advance Account NZD)
    New Zealand Cash and Equivalents A
    3.68%
  • New Zealand Government Bond Maturing 15 Apr 27
    New Zealand NZ Fixed Interest AA+
    1.69%
  • Orbis Global Equity Le Fund
    Australia International Equities N/A
    1.47%
  • New Zealand Government Bond Maturing 14 Apr 33
    New Zealand NZ Fixed Interest AA+
    1.34%
  • ASB Bank Ltd Note Maturing 18 Jun 19
    New Zealand NZ Fixed Interest AA-
    1.3%
  • New Zealand Government Bond Maturing 20 Apr 29
    New Zealand NZ Fixed Interest AA+
    1.07%
  • New Zealand Government Bond Maturing 15 Apr 37
    New Zealand NZ Fixed Interest AA+
    1.03%
  • Cooperatieve Rabobank Ua NZ Bond Maturing 11 Jun 19
    New Zealand NZ Fixed Interest A
    0.97%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

How the money in this fund is invested.

Type Target Actual
Cash and Cash Equivalents 45.0% 44.42%
New Zealand Fixed Interest 17.5% 17.6%
International Fixed Interest 17.5% 15.76%
Australasian Equities 7.0% 7.19%
International Equities 13.0% 15.03%
Listed Properties 0.0% 0.0%
Unlisted Properties 0.0% 0.0%
Unknown None% 0.0%
Other 0.0% 0.0%
Commodities 0.0% 0.0%

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

Key Personnel

  • Blair Robert Vernon

    Currently: Investment Committee Member (7 years, 9 months)
    Previously: Managing Director, AMP Financial Services (2 years, 3 months)

  • Simon John Hoole

    Currently: Investment Committee Member (2 years, 2 months)
    Previously: Chief Financial Officer, AMP Financial Services (5 years, 3 months)

  • Therese Mary Singleton

    Currently: Investment Committee Member (4 years, 2 months)
    Previously: General Manager, Advice & Sales, AMP Financial Services (2 years, 3 months)

This information has been sourced from the quarterly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

The known proportion of this fund invested in the areas of concern that we track. The Fund may have investments that are not consistent with their exclusions policy because of timing issues or because there are companies of concern in indirect investments.

  • Adult Entertainment/Pornography:
    0.00%
  • Alcohol:
    0.17%
  • Animal Testing:
    1.34%
  • Fossil Fuels:
    1.54%
  • Gambling:
    0.21%
  • GMOs:
    0.16%
  • Human Rights & Environmental Violations:
    0.83%
  • Palm Oil:
    0.00%
  • Tobacco:
    0.08%
  • Weapons:
    0.25%

This data has been compiled by Mindful Money from the portfolios that each KiwiSaver fund has filed with the Disclose register to 31 March 2019 and Mindful Money analysis of funds within those portfolio. The list of companies of concern has been drawn from ratings agencies and public sources, including the Norwegian Sovereign Fund, NZ Super Fund and research organisations.

Does this fund have a policy to exclude any industries from its investments?

  • Adult Entertainment/Pornography:
  • Alcohol:
  • Animal Testing:
  • Fossil Fuels:
  • Gambling:
  • GMOs:
  • Human Rights & Environmental Violations:
  • Palm Oil:
  • Tobacco:
  • Weapons:

This data is compiled from Mindful Money analysis of Fund websites. Note that the Fund’s intended exclusions may not be consistent with the analysis of the portfolio because of timing issues or because there are companies of concern in indirect investments by the Fund.

Many KiwiSaver funds exclude controversial weapons. However, the category of Weapons used in this analysis is broader in scope, covering all munitions, firearms and military weapons.

Download the fund's disclosure statement and portfolio holdings.

This information has been sourced from the six monthly data that each KiwiSaver fund has filed with Disclose register to 31 March 2019.

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Before investing, consider your investment aims, your values and your risk preferences. You should read the Product Disclosure Statement for the investment fund carefully. It contains the fund’s investment objectives, risks, fees and other information which you should know before investing. This website has a list of the advisers that are registered with the Responsible Investment Association of Australasia. You should contact an investment adviser before investing if you have questions or if you are unclear about the implications of your investment decision.