AMP MySuper Achieves Strong Double-Digit Returns in CY24

In recent news related to superannuation, AMP has reported robust double-digit returns for its MySuper superannuation fund options in the calendar year 2024. The AMP MySuper 1970s option, known for its high-growth asset allocation, achieved a noteworthy 15% return during this period.

Members of AMP MySuper born in the 1980s and 1990s also experienced impressive returns of 15.2% and 15.1%, respectively, supported by a similar high-growth asset allocation strategy. Additionally, members from older age groups, such as those born in the 1960s and 1950s, who are either nearing retirement or already in retirement with a lower growth allocation, also saw strong returns of 11.5% and 9.8%, respectively, in the same year.

Anna Shelley, the Chief Investment Officer at AMP, expressed satisfaction with the performance, attributing the strong returns to strategic allocation decisions and active performance by the investment team. The successful outcome was a result of the fund’s emphasis on asset classes like US and global equities, which benefited from the surge in AI adoption and associated productivity gains.

Furthermore, AMP has been diversifying its portfolio by increasing exposure to alternatives such as diversified credit and private debt, which have consistently delivered high returns. Notably, a strategic move to enhance exposure to direct property by capitalizing on discounted opportunities from motivated sellers has proven beneficial.

In a notable move, AMP included a small allocation to bitcoin, which contributed positively to the fund’s overall returns. While the investment in bitcoin futures was relatively minor, it was well-managed through the Dynamic Asset Allocation program, adding a new dimension of diversification to the fund.

Looking ahead to 2025, Shelley outlined the fund’s commitment to seizing emerging opportunities that offer significant value to members. She emphasized the importance of diversification in delivering sustainable investment returns over the long term and highlighted the fund’s active management approach in aligning the portfolio with future trends and market dynamics.

In conclusion, AMP’s MySuper fund’s strong performance in 2024 underscores the fund’s proactive investment strategies and commitment to delivering favorable outcomes for its members. The focus on strategic asset allocation, active management, and diversification has been instrumental in achieving these impressive returns, setting a positive trajectory for future investment endeavors.