Global market performance continued to fluctuate over the month of July, however growth in most asset class returns such as bonds and shares has seen the AMP KiwiSaver Scheme funds continue to perform well.
In the US, positive economic data lead to a rise of 3.1% in returns on shares. Emerging and Asian markets recovered slightly through the month, despite the ongoing trade tensions between the US and China. By contrast Australian shares reported moderate performance, rising 1.4%, while New Zealand shares slipped 0.2% after a strong year-to-date performance.
Global and property and infrastructure were also strong in July, both returning 2%.
Global government bond yields were mixed, with US bonds ending the month relatively flat.
The NZ dollar stabilised with a 0.6% gain 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 3.32% (offered by the major banks as at 7 July 2017), the returns for some of our key funds were:
- 11.75% pa for the AMP Growth Fund
- 9.06% pa for the AMP Balanced Fund
- 6.46% 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.