AMP KiwiSaver Scheme Review
Independent analysis of AMP Wealth Management New Zealand Limited's KiwiSaver scheme based on FMA data, performance metrics, and fee structures. Last updated: May 2026.
Quick Summary
✅ Key Highlights
- • Established provider: $9.7B in total assets
- • Good choice: 30 fund options available
- • Highest 5-yr return: Milford Aggressive Fund (21.37% over 5 years)
- • Flexible KiwiSaver and investment funds
- • Strong performance track record
📊 At a Glance
- • Average fees: 0.96% per year
- • 5-year returns: 6.47%
- • Fund options: 30 funds
- • Total members: 219k+
- • Assets under management: $9.7B
AMP offers KiwiSaver and investment solutions with a strong track record and flexible options.
Performance Analysis
All AMP KiwiSaver Scheme Funds
| Fund Name | Type | 5-Year Return | Fees | Risk | Members |
|---|---|---|---|---|---|
| Milford Aggressive Fund | Aggressive | 21.37% | 1.57% | 5/7 | 2,403 |
| AMP Growth Fund | Growth | 18.10% | 0.85% | 4/7 | 30,725 |
| Mercer Balanced Fund | Balanced | 14.12% | 1.26% | 4/7 | 1,519 |
| AMP International Shares Fund No. 2 | Aggressive | 12.76% | 0.86% | 5/7 | 1,516 |
| AMP International Shares Fund | Aggressive | 12.52% | 0.85% | 5/7 | 1,722 |
| SuperLife Moderate Fund | Balanced | 12.37% | 1.07% | 4/7 | 1,048 |
| Milford Conservative Fund | Conservative | 7.19% | 1.33% | 3/7 | 387 |
| SuperLife Growth Fund | Growth | 7.00% | 1.17% | 4/7 | 4,214 |
| Global Select Growth Fund | Growth | 6.85% | 1.27% | 4/7 | 4,651 |
| AMP Aggressive Fund | Aggressive | 6.70% | 0.85% | 4/7 | 30,089 |
| AMP Aggressive Fund (Lifesteps) | Aggressive | 6.70% | 0.85% | 4/7 | 13,431 |
| AMP Balanced Fund No. 2 | Balanced | 6.20% | 0.85% | 4/7 | 1,541 |
| AMP Growth Fund (Lifesteps) | Growth | 5.90% | 0.85% | 4/7 | 9,975 |
| Global Select Balanced Growth Fund | Growth | 5.65% | 1.18% | 4/7 | 6,071 |
| SuperLife Balanced Fund | Balanced | 5.27% | 1.12% | 4/7 | 1,381 |
| AMP Balanced Fund | Balanced | 4.55% | 0.85% | 4/7 | 25,865 |
| AMP Moderate Balanced Fund | Balanced | 4.48% | 0.84% | 4/7 | 16,769 |
| AMP Balanced Fund (Lifesteps) | Balanced | 4.11% | 0.85% | 4/7 | 8,906 |
| AMP Moderate Balanced Fund (Lifesteps) | Balanced | 3.78% | 0.84% | 4/7 | 9,934 |
| AMP Moderate Fund | Balanced | 3.55% | 0.84% | 4/7 | 12,875 |
| AMP Moderate Fund (Lifesteps) | Balanced | 3.55% | 0.84% | 4/7 | 8,842 |
| AMP Cash Fund | Defensive | 2.31% | 0.65% | 2/7 | 2,891 |
| AMP Conservative Fund (Lifesteps) | Conservative | 2.28% | 0.84% | 3/7 | 5,154 |
| AMP Conservative Fund | Conservative | 2.28% | 0.84% | 3/7 | 11,005 |
| Global Select Conservative Fund | Conservative | 1.91% | 1.08% | 3/7 | 507 |
| AMP Australasian Shares Fund | Aggressive | 1.33% | 0.83% | 5/7 | 426 |
| AMP Global Fixed Interest Fund | Defensive | -0.81% | 0.84% | 3/7 | 74 |
| AMP NZ Fixed Interest Fund | Defensive | -0.90% | 0.86% | 3/7 | 120 |
| Milford Active Growth Fund | Growth | N/A | 1.57% | 4/7 | 3,136 |
| Milford Balanced Fund | Balanced | N/A | 1.43% | 4/7 | 1,918 |
Considerations for AMP
What the data shows
- •Average fees at or above the market average
- •A choice between multiple fund types
- •One of the larger providers by fund count
Points some investors compare
- •Fees at lower-fee providers (for example Simplicity, Kernel)
- •Historical returns at other providers (for example Milford, Fisher Funds)
- •Ethical and responsible-investment options
- •Fund risk levels for a planned first-home withdrawal
A licensed financial adviser can help with a personal assessment.
Compare Alternatives
Other providers with comparable data:
AE KiwiSaver Limited
Always Ethical provides ethical KiwiSaver and investment funds that focus on responsible investing.
ANZ New Zealand Investments Limited
ANZ provides a wide range of KiwiSaver and investment funds tailored for diverse financial goals.
Arotahi Trust Limited
Arotahi delivers KiwiSaver and investment solutions with a focus on secure and sustainable growth.
ASB Group Investments Limited
ASB provides a variety of KiwiSaver and investment options backed by strong financial expertise.
Ready to Compare All Providers?
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Disclaimer: This analysis is based on publicly available data from the FMA and provider disclosures as of October 2025. Past performance does not guarantee future results. This is not financial advice. Please consult a licensed financial adviser before making investment decisions.
Data sources: FMA KiwiSaver Quarterly Reports, AMP Wealth Management New Zealand Limited Product Disclosure Statements, provider websites.
