AMP Bank

WealthView eWRAP Pension Account

No. of members: 223644
Fund size: $39.9b
Public offer:
Product type: Master Trust-Allocated Pension
Target market: -
Year started: 2003
Past 5-year return
4.78%
Admin fee

$1.1k

Calc fees on 50k

$1.5k

SuperRatings awards
Past 5-year return
4.78%
Admin fee

$1.1k

Calc fees on 50k

$1.5k

SuperRatings awards

Pros and Cons

Pros and Cons

  • No information was provided by the fund to SuperRatings, hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS

Summary

Launched in 2003 by AMP Financial Planning Pty Limited, WealthView eWRAP Pension is an all-in-one investment vehicle, with the aim to provide sophisticated retirement and investment services to high net worth investors. It has been closed to new members since October 2016.An extensive range of investment options are offered, giving members a high level of choice including over 300 managed funds, listed securities, Listed Investment Companies and ETFs, as well as Term Deposits. The Future Directions Balanced Fund underperformed the SuperRatings Index over the 10 years to 30 June 2019; however, the performance history is not available for the AMP Capital Balanced Growth Fund option.Fees associated with this product are higher than the industry average across all account balances assessed. A high minimum administration fee of $1,128 pa is payable on account balances under $100,000. However, the percentage administration fee reduces on a sliding scale, which benefits members with larger account balances. Members may choose to pay their financial adviser either a one-off flat dollar fee or an ongoing fee for the advice received about their account. Contribution fees also apply and can be negotiated with the financial adviser.This product provides members with limited flexibility, including three payment frequencies, monthly, quarterly and annually. Members can nominate a specific pension drawndown order or pro-rata across investments. A choice of binding, non-binding lump sum death benefit nomination or reversionary pension is also provided. AMP's website contains a variety of financial simulators and retirement calculators, as well as a Goals info centre, which provides members with a wealth of educational materials, tools and online learning. Members are also provided with consolidated reporting and can manage their portfolio via Investor Online at any time.

Features and Fees

AMP Bank Fees and Features

    Pros and Cons

    • No information was provided by the fund to SuperRatings, hence an alert rating may be given in areas where a qualitative assessment cannot be made. For available information refer to the fund's PDS

    Launched in 2003 by AMP Financial Planning Pty Limited, WealthView eWRAP Pension is an all-in-one investment vehicle, with the aim to provide sophisticated retirement and investment services to high net worth investors. It has been closed to new members since October 2016.An extensive range of investment options are offered, giving members a high level of choice including over 300 managed funds, listed securities, Listed Investment Companies and ETFs, as well as Term Deposits. The Future Directions Balanced Fund underperformed the SuperRatings Index over the 10 years to 30 June 2019; however, the performance history is not available for the AMP Capital Balanced Growth Fund option.Fees associated with this product are higher than the industry average across all account balances assessed. A high minimum administration fee of $1,128 pa is payable on account balances under $100,000. However, the percentage administration fee reduces on a sliding scale, which benefits members with larger account balances. Members may choose to pay their financial adviser either a one-off flat dollar fee or an ongoing fee for the advice received about their account. Contribution fees also apply and can be negotiated with the financial adviser.This product provides members with limited flexibility, including three payment frequencies, monthly, quarterly and annually. Members can nominate a specific pension drawndown order or pro-rata across investments. A choice of binding, non-binding lump sum death benefit nomination or reversionary pension is also provided. AMP's website contains a variety of financial simulators and retirement calculators, as well as a Goals info centre, which provides members with a wealth of educational materials, tools and online learning. Members are also provided with consolidated reporting and can manage their portfolio via Investor Online at any time.

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    AMP Bank Fees and Features

      Fund fees vs. Industry average
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      Fund past-5-year return vs. Industry average
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      Features
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