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AMP KiwiSaver Scheme performance update – June

Markets in June stayed positive

Global market performance was mixed over the month of June however with growth in most asset classes such as bonds and shares the AMP KiwiSaver Scheme funds continue to perform well.

In the US, positive economic data was enough to keep returns on shares just over the positive line. However, Europe and Japan finished the month lower due to trade concerns, inflationary pressures and a rising USD. Emerging markets were particularly weak in June, mainly due to the higher USD which in turn, increases the cost of these countries servicing their foreign debt. By contrast, Australian and New Zealand shares reported strong performance, with both markets up 3.3%.
Global property and infrastructure were also strong in June, both returning more than 2%.

Global government bond yields were mixed with US bonds ending the month relatively flat. European yields in the bond market were lower and less stable. This is due to political developments in Italy and the increasing odds of a difficult BREXIT negotiation which also led to some weakness in the pound.

The NZ dollar dropped against most major currencies as the domestic economy showed signs of slowing down mildly.
Compared to the average return on the average term deposit for 1 year of 3.36% (offered by the major banks as at 2 June 2017), the returns for some of our key funds were:

  • 10.90% pa for the AMP Growth Fund
  • 8.45% pa for the AMP Balanced Fund
  • 6.10% pa for the AMP Moderate Fund

These returns are after total fund charges and before tax.

AMP KiwiSaver Scheme is a long-term investment and unless your individual circumstances have changed, this may not be the time to make decisions to change your funds.

You can view returns for all of the AMP KiwiSaver Scheme funds here.

If you have any questions you can talk with your Adviser or call us on 0800 267 5494.

A disclosure statement is available on request and free of charge from your Adviser.

Important information

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AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme (the 'Scheme'). The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited.

Please note past returns are not indicative of future returns.

For more information, download a copy of the AMP KiwiSaver Scheme Product Disclosure Statement and Fund Update Booklet, which have been lodged on the Scheme's offers register entry at companiesoffice.govt.nz/disclose.

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.