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What the Researchers Say:

A "good value for money" superannuation fund that is strong in nearly all assessment areas but with average features and/or performance in one or more of our assessment criteria.

You should contact your financial adviser or this fund before making an investment decision.

  • Gold
  • Infinity Recognised
Awards
Fund data valid as of February 29, 2016

Typical Fees

Balance This Fund Industry Average Difference
5k $179 $155 $24
50k $490 $629 -$139
100k $835 $1,160 -$325

Investment Allocation

Intl shares 27.0%
Aus shares 38.0%
Property 5.0%
Fixed interest 22.0%
Cash 8.0%

Fees & Charges

Administration Fee ($) $145
Administration Fee (%) 0.54%
Investment Fee 0.15%
Switching Fee $0
Exit Fee $0
Account Size Discount Yes
Employer Size Discount Yes

Fund Features

Financial Planning Service
Health Insurance
Home Loans
Credit Cards
Binding Nominations
Non-lapsing Binding Nominations
Insurance Life Event Increases
Anti-detriment Payments
Long Term Income Protection

About this Fund

Membership 256,993
Total Assets $15,941,939,295
Year Started 2010
Target Market All Industries
Offered to Public? Yes
Fund Type Master Trust-Personal

Fund Highlights - provided by AMP Flexible Super - Choice - Super Easy Balanced

Wide range of over 70 investment options plus Term Deposits on the menu
One consolidated statement for super and pension accounts
Online straight through processing on investment switches 24/7
Pension Refresh Facility
Online access to My Portfolio with regular reporting functionality

Fund Rating Snapshot

  • Legend:
  • Excellent
  • Good
  • Average
  • Below Average
  • N/A

Rating Categories Clockwise from top

Performance
Performance is based on the past 5 years for their core balanced option
Investment Choices
Points scored on additional benefits to members ie: Home loans, Credit Cards, Health Insurance, Reverse Mortgage, shopping discounts, anti detriment payments and many others
Investment Processes
Points scored on contribution collection, via cheque, cash, Eftpos, Bpay, direct debit and other features
Small Account Fees
Points scored on the fees and charges based on an account size of $5k
Medium Account Fees
Points scored on the fees and charges based on an account size of $50k
Large Account Fees
Points scored on the fees and charges based on an account size of $100k
Death Insurance
Points scored on premium costs and features for Death Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Death and TPD Insurance
Points scored on premium costs features for Death and TPD Insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max age and other features
Income Protection Insurance
Points scored on premium costs features for Income Protection insurance ie: Min/Max level of cover, cover available during unpaid, whilst overseas, max% on monthly salary, waiting days available and other features
Member Services
Points scored on additional benefits offered to members ie Statement frequency and newsletter communications and other features
Administration Services
Points scored on the fund structure ie switching between investments, selecting regular contributions, nominated beneficiary changes, changing insurance options. For Service features like call centre, adviser services reports and many other features.
Financial Advice
Points scored on features in respect to financial advice facilities offered ie, by phone, internet, face to face, cost of scaled advice and others.
Goverance
Points scored on Trustee structure, number of independent directors , renumeration and proxy voting policy and risk

Score Explanation

Excellent: Score of 75%-100%
Premium performer in this area. Well above benchmark.
Good: Score of 51%-74%
Better than most funds. Above benchmark
Average: Score of 26%-50%
Placed close to benchmark
Below average: Score of below 25%
Not quite up to speed. Lower than benchmark.

Investment Option Performance

Asset Allocation Category FYTD FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 Comparison
Balanced -1.56%
-1.60%
10.45%
9.60%
12.24%
12.66%
16.11%
14.73%
1.08%
0.45%
6.68%
8.71%
Fund
Benchmark
High Growth -3.42%
-3.91%
13.47%
11.66%
16.17%
15.76%
23.17%
20.40%
-1.71%
-3.15%
6.69%
9.40%
Fund
Benchmark
Conservative Balance -0.32%
-0.71%
9.06%
7.28%
9.94%
9.64%
11.87%
11.26%
2.73%
1.87%
4.92%
7.70%
Fund
Benchmark
Growth -2.77%
-2.51%
12.18%
10.71%
13.95%
14.01%
18.98%
17.11%
0.02%
-0.95%
6.46%
9.40%
Fund
Benchmark
Australian Shares -7.49%
-5.16%
5.28%
5.70%
15.09%
16.77%
20.48%
21.07%
-5.63%
-6.15%
12.77%
11.00%
Fund
Benchmark
Overseas Shares -2.30%
-5.46%
22.39%
19.16%
18.19%
17.63%
28.26%
26.14%
-3.30%
-2.45%
2.52%
5.86%
Fund
Benchmark
Capital Stable 0.23%
0.46%
7.14%
5.66%
7.52%
7.34%
7.91%
8.29%
4.21%
4.06%
4.92%
6.70%
Fund
Benchmark
Property -1.47%
7.11%
14.89%
10.78%
11.41%
9.09%
12.19%
10.99%
3.40%
7.12%
16.99%
8.00%
Fund
Benchmark
Cash 1.80%
1.24%
1.90%
2.25%
2.40%
2.42%
3.50%
2.94%
3.80%
4.04%
Fund
Benchmark
  • Legend:
  • Outperformed average
  • Underperformed average
  • Negative returns

Annualised figures are the average per year returns of the rated option based on the cumulative returns for the past 5 years to 30/06/2015, past performance is not a reliable indicator of future performance. Performance and fee data is based on the option which is rated by SuperRatings and stated on each product's landing page.

Benchmark investment information - how performance is measured

To ensure comparability for consumers, the RateCity superannuation comparison is based on the asset allocation of each of the MySuper/Pension products, irrespective of the name of the investment option. This methodology allows consumers to compare products on a like for like basis and removes any ambiguities associated with the name of the investment option. For example, an investment option may be classified as growth, however its asset allocation may in fact mean it should be classified as high growth. By using the asset allocation as the dominant identifier, we believe this provides the most robust framework for consumers to compare funds and recognise that this is a consistent approach to that of SuperRatings methodology.

Option Type Percentage of Growth Assets
min-max %
High Growth 91-100%
Growth 77-90%
Balanced 60-76%
Conservative Balanced 41-59%
Capital Stable 20-40%
Secure 0-19%

What the researchers say

AMP Flexible Super was launched in May 2009, aiming to be a simple and low-cost superannuation product. The Choice Package provides members with access to greater investment choice and comprehensive insurance cover. AMP Flexible Super received an Infinity Recognised Award in 2015 for the 5th consecutive year, in recognition of excellence in environmental and social principals.

The Choice Package features over 70 Diversified, Single-Sector and Single Manager investment options which include a Lifecycle Active investment strategy. Access to Term Deposits is also provided. The Super Easy Balanced option has outperformed the SuperRatings Index over the short term and the long term.

Fees for this product are lower than the industry average across all account balances assessed. A higher member fee is applicable to Choice members, however no switching or exit fees are charged, although changing investment options may incur transactional costs. Also, members with account balances greater than $100,000 may be eligible for rebates on Premium investment options.

Basic insurance cover (Essential Protection) is automatically provided and limits the amount of Death & TPD cover to $250 000. However, additional cover (Super Protection) is available allowing members to apply for up to $5 million of Death & TPD cover. Income Protection insurance is available over 2 year or to age 65 benefit periods, with a choice of a variety of waiting periods ranging from 30 to 720 days.

AMP's new look website contains a variety of financial simulators and retirement calculators, and a 'News and Insights' Centre to keep members informed with market updates and investing know-how. Members can also manage their superannuation on desktops, tablets and their mobile phones via MyPortfolio.


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