AMP a laggard with KiwiSaver default status on the line

Thu, 29 Oct 2020

AMP’s KiwiSaver is still the worst-performing default provider as the deadline to bid for the next seven-year contract creeps closer. The latest Morningstar report shows AMP delivering the lowest returns in each timeframe, except the past quarter. Across the past decade, AMP has generated an annual 4.9 percent return after fees for its default fund investors compared to more than 5.5 percent from its peers.ANZ’s default conservative fund has been the best performer, generating a 6 percent annual return in the past 10 years, fo...

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