Name: AMP BALANCED FUND NO. 2
Brand: AMP WEALTH MANAGEMENT NEW ZEALAND LIMITED

There are some aspects of this fund which may require extra consideration before deciding to invest.

FMA exemption

Some funds are exempted from the disclosure requirements, so certain information may not be available for these offers. Or the information provided might be in a different form, given the bespoke nature of the offer. Here's more on Financial Markets Authority exemptions.

The Financial Markets Conduct (Market Index) Exemption Notice 2024

Mix

This is the actual mix of growth assets (shares, property) and income assets (bonds, cash) that this fund held on 30 September 2024. The average mix for balanced KiwiSaver funds is in grey.

Mix

Fees

Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. Compare with the average fees for balanced KiwiSaver funds (in grey).

Fees

Returns

Returns (in green) show how much this fund has grown in value in five years up to 30 September 2024 – after fees and taxes. Compare with the average balanced KiwiSaver fund (in grey).

Returns

Compare with other balanced KiwiSaver funds Product disclosure statement

Key facts

Here is what the provider says about this managed fund

“ The fund has a well-diversified portfolio that has a balance of risk through holding growth assets and an allocation to lower-risk income assets. The fund aims to achieve medium returns, in exchange there will be some movements up and down in the value of your investments. ”

Provider website: amp.co.nz
Fund start date: 28 July 2016

When can you get your money out?

This is a KiwiSaver fund, which means generally you can withdraw only to purchase a first home, after the age of 65 or in cases of financial hardship.

Mix

This is a snapshot of the proportion of growth assets (shares, property, other) or income assets (cash, bonds) that this fund held on 30 September 2024.

You can also see the average for Balanced funds, which typically hold from 35% to 63% of growth assets.

Different mix, different result

As you invest, your mix (often called "asset allocation") is the most significant factor that will determine the results you get, including the ups and downs in value you experience. It's important to get right.

Choosing a specific mix is a way of dialling your risk up or down, depending on the amount of growth assets you take on board. The more risk you take on, the higher your returns are likely to be, although this is no sure thing. That's what risk is all about.

For the most appropriate mix for you and your situation (often called your "risk profile"), see Sorted's investor kickstarter for managed funds, or answer these three questions for KiwiSaver funds.

This fund's asset mix

Growth assets
Income assets

ASSET TYPE
THIS FUND
AVERAGE OF ALL BALANCED KIWISAVER FUNDS

Breakdown on Shares assets

	ACTUAL	TARGET	AVERAGE
Total	54.41%	—	47.79%
International shares	39.21%	37.50	32.97%
Australasian shares	15.20%	15.00	14.82%

About shares

Buying shares gives you part ownership in a company and can bring returns from your share of the profits (dividends) or from selling the shares for more than you paid. Shares are growth assets and are also known as equities or stock. Here's more on the basics of shares.

Breakdown on Property assets

	ACTUAL	TARGET	AVERAGE
Total	0.00%	—	3.15%
Listed property	0.00%	0.00	2.74%
Unlisted property	0.00%	0.00	0.41%

About property

Property refers to commercial real estate (not the family home) owned through property trusts or companies that own or develop real estate as their business. Properties are growth assets and can be listed on an exchange or be unlisted.

Breakdown on Other assets

	ACTUAL	TARGET	AVERAGE
Total	7.24%	—	1.93%
Commodities	0.00%	0.00	0.02%
Other	7.24%	7.00	1.90%
Unknown	0.00%	0%	0.00%

What "other" means

This category can include alternative investments such as derivatives, often through a hedge fund. These "other" investments are typically considered growth assets, or high-risk investments.

Breakdown on Bonds assets

	ACTUAL	TARGET	AVERAGE
Total	33.40%	—	38.79%
New Zealand bonds	16.43%	20.00	17.98%
International bonds	16.97%	15.50	20.81%

About bonds

A bond is a bit like a term deposit at a bank, but it's effectively a loan you make to a company or government which they promise to pay back in full on a specific date. Until then, you receive regular interest at a fixed or agreed rate. Bonds are income assets and can also be called "fixed interest" or "debt securities". Since they can typically be traded on a secondary market, their value can go up and down. Here's more on the basics of bonds.

Breakdown on Cash assets

	ACTUAL	TARGET	AVERAGE
Total	4.95%	—	8.33%
Cash and equivalents	4.95%	5.00	8.33%

About cash

Cash is a kind of investment that generally pays you interest. (An exception to this are shariah-compliant funds, which can hold cash but are prohibted from earning interest.) Cash typically includes term deposits, floating-rate notes and money market accounts. Cash, which is often a loan to a bank, is considered an income asset. Here's more on investing in term deposits.

Top 10 investments

These assets make up 14.60% of this fund.

Asset	Asset class	Type	Country	% of Fund
FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED	Shares	Australasian equities	NZ	1.77%
NEW ZEALAND GOVERNMENT INFLATION LINKED BOND - MATURING 20 SEP 2035	Bonds	New Zealand fixed interest	NZ	1.76%
BNP USD ACCOUNT	Cash	Cash and equivalents	US	1.65%
APPLE INC	Shares	International equities	US	1.60%
NVIDIA CORP	Shares	International equities	US	1.40%
MICROSOFT CORP	Shares	International equities	US	1.40%
NEW ZEALAND GOVERNMENT BOND - MATURING 20 APR 2029	Bonds	New Zealand fixed interest	NZ	1.31%
NEW ZEALAND GOVERNMENT BOND - MATURING 15 APR 2027	Bonds	New Zealand fixed interest	NZ	1.31%
NEW ZEALAND GOVERNMENT INFLATION LINKED BOND - MATURING 20 SEP 2030	Bonds	New Zealand fixed interest	NZ	1.25%
NEW ZEALAND GOVERNMENT INFLATION LINKED BOND - MATURING 20 SEP 2040	Bonds	New Zealand fixed interest	NZ	1.15%

Full list of investments this fund holds

OFR10393 FND616 - AMP Balanced Fund No. 2 FPH 20240331.xlsx

A complete list of the fund's holdings

xlsx, 327 KB

Fees

Fees shown here (in purple) are based on what you would pay over a year if you had $10,000 in this fund. You can compare these with fees for the average balanced KiwiSaver fund (in grey).

Fees breakdown

Here's a breakdown of the different charges in this fund (in purple), compared to the average balanced KiwiSaver fund (in grey).

Fee Type	% Over a Year	Amount Paid on a 10K Balance
Management This fee is charged to you by the fund manager on the fund or an underlying fund, and is based on a percentage of your balance.	0.69% AVG: 0.79%	$69.00 AVG: $78.98
Other This is a summary of other potential costs not covered in the categories displayed.	0.10% AVG: 0.07%	$10.00 AVG: $7.48
Performance-based These fees are based on the performance of the fund or underlying fund. When the fund performs well, these will be higher.	None AVG: 0.01%	$0.00 AVG: $0.68
Membership You pay this membership charge (a flat fee) each year, regardless of your balance or the fund's performance.	0.23% AVG: 0.15%	$23.40 AVG: $15.41
Total combined fees These are a total of management and administration charges and performance-based fees over a year. They do not necessarily include fees for activities like transferring or withdrawing.	1.02% AVG: 1.02%	$102.40 AVG: $102.55

Returns

For the past five years, this fund returned this average each year to investors (in green). This was after fees and taxes (28% PIR) were taken out. To compare, you can see the average return over the same time for all balanced KiwiSaver funds (in grey).

Yearly returns

These annual returns (in green) were for the 12 months up to 31 March 2024. You can compare them to the average balanced KiwiSaver fund (in grey).

Risks

Specific risks for this fund

Chasing higher returns while investing always increases risks. Several kinds of risks, actually. It is important to evaluate whether the returns are worth it, whether you can cope, and whether this investment will in fact help you achieve your goals. Also, since the way an investment is structured can make it riskier, it's important to understand how it works.

You'll find the specific risks in the Risk section of the PDS, and here's more about understanding risk.

AMP KiwiSaver Scheme - Product Disclosure Statement.pdf

How this investment works, including about the provider, risks, costs and potential returns

pdf, 3.8 MB

Risk indicator

This is a gauge of how volatile this investment has been – how much it has gone up and down in value. It has been calculated based on the fund's five-year performance (or an appropriate market index if it has not been around that long).

The left side of this range of numbers indicates a Lower risk

The right side of this range of numbers indicates a Higher risk

The left side of this range of numbers indicates Potentially
lower returns

The right side of this range numbers indicates Potentially
higher returns

Key documents

These are the most important documents that a provider is required to file about this investment.

Product disclosure statement

Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.

AMP KiwiSaver Scheme - Product Disclosure Statement.pdf

How this investment works, including about the provider, risks, costs and potential returns

pdf, 3.8 MB

Fund update (most recent)

This update from the provider lets you see much of the same information shown here in Smart Investor: how this fund is performing, what it costs and the investments it currently holds.

AMP Balanced Fund No. 2.pdf

The quarterly update published by the provider

pdf, 2.1 MB

Complete asset portfolio

Browse through the complete list of investments held by this fund.

OFR10393 FND616 - AMP Balanced Fund No. 2 FPH 20240331.xlsx

A complete list of the fund's holdings

xlsx, 327 KB

Additional disclosure documents

These are more documents from the provider that can contain interesting information.

Management Services Agreement 22 September 2015 and Notices dated 1 December 2015 and 6 October 2015.pdf

pdf, 978 KB

KiwiSaver_Default_Provider_(AMP)_Notice_2015.pdf

pdf, 2.8 MB

Partnership Agreement 24 November 2011, Amendments 22 April 2013 & 31 July 2014 & Novation 22 September 2015.pdf

pdf, 3.5 MB

AMP Personal Retirement Plans – Statement of Investment Policy and Objectives.pdf

pdf, 1.1 MB

AMP KiwiSaver Scheme – Fund Update Booklet.pdf

pdf, 12 MB

AMP KiwiSaver Scheme - Statement of Investment Policy and Objectives.pdf

pdf, 1.3 MB

AMP KiwiSaver Scheme - Risks.pdf

pdf, 1000 KB

AMP KiwiSaver Scheme - Who Is Involved.pdf

Name	Current position	Time in role
JEFFERY DARREN RUSCOE	Investment Committee Member	5 years, 6 months
MARK DAVID ENNIS	Investment Committee Member	4 years, 2 months
KATIE PRISCILLA BREATNACH *	Investment Committee Member	1 year, 7 months

AMP BALANCED FUND NO. 2

AMP KIWISAVER SCHEME

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FMA exemption

Mix

Fees

Returns

Key facts

Here is what the provider says about this managed fund

When can you get your money out?

Mix

This fund's asset mix

Shares

Breakdown on Shares assets

About shares

Property

Breakdown on Property assets

About property

Other

Breakdown on Other assets

What "other" means

Bonds

Breakdown on Bonds assets

About bonds

Cash

Breakdown on Cash assets

About cash

Top 10 investments

Full list of investments this fund holds

OFR10393 FND616 - AMP Balanced Fund No. 2 FPH 20240331.xlsx

Fees

Fees breakdown

Management

Other

Performance-based

Membership

Total combined fees

Returns

Yearly returns

Risks

Specific risks for this fund

AMP KiwiSaver Scheme - Product Disclosure Statement.pdf

Risk indicator

Key documents

Product disclosure statement

AMP KiwiSaver Scheme - Product Disclosure Statement.pdf

Fund update (most recent)

AMP Balanced Fund No. 2.pdf

Complete asset portfolio

OFR10393 FND616 - AMP Balanced Fund No. 2 FPH 20240331.xlsx

Additional disclosure documents

Management Services Agreement 22 September 2015 and Notices dated 1 December 2015 and 6 October 2015.pdf

KiwiSaver_Default_Provider_(AMP)_Notice_2015.pdf

Partnership Agreement 24 November 2011, Amendments 22 April 2013 & 31 July 2014 & Novation 22 September 2015.pdf

AMP KiwiSaver Scheme - Service Provider Agreement (including amendments).pdf

AMP KiwiSaver Scheme - Joining and Contributing 31 March 2017.pdf

KiwiSaver - Risks.pdf

KiwiSaver - Tax.pdf

AMP KiwiSaver Scheme - Who is involved.pdf

AMP KiwiSaver Scheme - Withdrawals 31 March 2017.pdf

AMP KiwiSaver Scheme - Fund Update Booklet.pdf

AMP KiwiSaver Scheme - Fees and Other Charges.pdf

AMP KiwiSaver Scheme - SIPO.pdf

AMP KiwiSaver Scheme – Risks.pdf

AMP KiwiSaver Scheme – Who is Involved.pdf

AMP KiwiSaver Scheme – Fees and Other Charges.pdf

AMP KiwiSaver Scheme – Statement of Investment Policies and Objectives.pdf

AMP KiwiSaver Scheme - Joining and Contributing.pdf

AMP KiwiSaver Scheme - Risks.pdf

AMP KiwiSaver Scheme - Withdrawing.pdf

AMP KiwiSaver Scheme - Fund Update Booklet.pdf

AMP KiwiSaver Scheme - Fees and Other Charges.pdf

AMP KiwiSaver Scheme - Who is involved.pdf

AMP KiwiSaver Scheme - Statement of Investment Policy and Objectives.pdf

AMP KiwiSaver Scheme - Risks.pdf

AMP KiwiSaver Scheme - Who is involved.pdf

AMP KiwiSaver Scheme - Fees and Other Charges.pdf

AMP KiwiSaver Scheme - Statement of Investment Policy and Objectives.pdf

AMP KiwiSaver Scheme - Fund Update Booklet.pdf

AMP KiwiSaver Scheme - Fund Update Booklet.pdf