01 Jun AMP KiwiSaver Scheme performance update – April 2019
Markets in April have continued to deliver a solid performance with positive returns
The month of April has continued to provide a solid performance for investors globally. Global share markets picked up, led by the US and China with Europe showing signs of improvement. Australasian equities continued to grow too with Australia edging New Zealand slightly.
The NZ central banks have kept interest rates relatively low for the first quarter, which supported Global bond and NZ bond returns for the month. While we do expect some moderation in market performance given the political instability due to US relationships with China, Iran and Venezuela, the markets will continue to perform positively in the second quarter of 2019.
The AMP KiwiSaver Scheme funds continue to rally and have shown a good level of gains in the first four months of this year.
KiwiSaver is a long-term savings plan. If you would like more information or to discuss whether you’re in the right fund to suit your savings needs, please get in touch.
How do the latest returns compare to the average term deposit?
Compared to the average return on the average term deposit for 1 year of 3.41% and 5 years of 5.38% (offered by the major banks in New Zealand in April 2018 and April 2014 respectively), the returns for some of our key funds were:
|Fund type||Annual return (1 year)*||Average annual return (5 years)**|
|AMP Growth Fund||8.50%||7.86%|
|AMP Balanced Fund||7.49%||6.76%|
|AMP Moderate Fund||6.29%||5.49%|
*30 April 2018 – 30 April 2019
**30 April 2014 – 30 April 2019
These returns are after total fund charges and before tax and are calculated based on unit price movements adjusted by total fund charges and tax credits and including a full allowance of any foreign tax credits.
You can view returns for all the AMP KiwiSaver Scheme funds here.
If you have any questions you can talk with us or call AMP on 0800 267 5494.
The information included in this article is of a general nature and is not a substitute for financial or other professional advice. To the extent that the information constitutes advice, it is class advice only. Before taking any action, you should always seek financial advice or other professional advice relevant to your personal circumstances. For personal financial advice, we recommend you contact your Adviser or if you don’t have an Adviser, contact us on 0800 267 263 and we can put you in touch with one.
A disclosure statement is available from your Adviser, on request and free of charge.