Is AMP expensive?
AMP's funds average 1.00% in annual fees versus a peer median of 0.75% across all NZ KiwiSaver scheme funds. 21 of 30 AMP funds charge above their fund-type peer median; 8 charge below.
General Information Only: This page provides factual data for comparison purposes and does not constitute financial advice. Individual circumstances vary.Read our disclosure
Per-fund fee vs peer median
| Fund | Type | Annual fee | Peer median | Δ vs median | Cohort size |
|---|---|---|---|---|---|
| Milford Aggressive Fund | Aggressive | 1.57% | 0.86% | +0.71 pp | 123 |
| Milford Balanced Fund | Balanced | 1.43% | 0.81% | +0.61 pp | 66 |
| Milford Active Growth Fund | Growth | 1.57% | 1.04% | +0.53 pp | 62 |
| Milford Conservative Fund | Conservative | 1.33% | 0.84% | +0.49 pp | 42 |
| Mercer Balanced Fund | Balanced | 1.26% | 0.81% | +0.45 pp | 66 |
| AMP NZ Fixed Interest Fund | Defensive | 0.86% | 0.53% | +0.33 pp | 47 |
| AMP Global Fixed Interest Fund | Defensive | 0.84% | 0.53% | +0.31 pp | 47 |
| SuperLife Balanced Fund | Balanced | 1.12% | 0.81% | +0.31 pp | 66 |
| SuperLife Moderate Fund | Balanced | 1.07% | 0.81% | +0.26 pp | 66 |
| Global Select Conservative Fund | Conservative | 1.08% | 0.84% | +0.24 pp | 42 |
| Global Select Growth Fund | Growth | 1.27% | 1.04% | +0.23 pp | 62 |
| Global Select Balanced Growth Fund | Growth | 1.18% | 1.04% | +0.14 pp | 62 |
| SuperLife Growth Fund | Growth | 1.17% | 1.04% | +0.13 pp | 62 |
| AMP Cash Fund | Defensive | 0.65% | 0.53% | +0.12 pp | 47 |
| AMP Balanced Fund No. 2 | Balanced | 0.85% | 0.81% | +0.04 pp | 66 |
| AMP Balanced Fund (Lifesteps) | Balanced | 0.85% | 0.81% | +0.04 pp | 66 |
| AMP Balanced Fund | Balanced | 0.85% | 0.81% | +0.04 pp | 66 |
| AMP Moderate Fund (Lifesteps) | Balanced | 0.84% | 0.81% | +0.03 pp | 66 |
| AMP Moderate Fund | Balanced | 0.84% | 0.81% | +0.03 pp | 66 |
| AMP Moderate Balanced Fund | Balanced | 0.84% | 0.81% | +0.03 pp | 66 |
| AMP Moderate Balanced Fund (Lifesteps) | Balanced | 0.84% | 0.81% | +0.03 pp | 66 |
| AMP International Shares Fund No. 2 | Aggressive | 0.86% | 0.86% | 0.00 pp | 123 |
| AMP Conservative Fund | Conservative | 0.84% | 0.84% | -0.01 pp | 42 |
| AMP Conservative Fund (Lifesteps) | Conservative | 0.84% | 0.84% | -0.01 pp | 42 |
| AMP Aggressive Fund (Lifesteps) | Aggressive | 0.85% | 0.86% | -0.01 pp | 123 |
| AMP International Shares Fund | Aggressive | 0.85% | 0.86% | -0.01 pp | 123 |
| AMP Aggressive Fund | Aggressive | 0.85% | 0.86% | -0.01 pp | 123 |
| AMP Australasian Shares Fund | Aggressive | 0.83% | 0.86% | -0.03 pp | 123 |
| AMP Growth Fund | Growth | 0.85% | 1.04% | -0.19 pp | 62 |
| AMP Growth Fund (Lifesteps) | Growth | 0.85% | 1.04% | -0.19 pp | 62 |
pp = percentage points. Peer median computed across all NZ KiwiSaver scheme funds of the same fund-type, excluding AMP. Sourced from FMA-filed Quarterly Fund Updates.
Cheaper peer-class alternatives
For each AMP fund, the three cheapest peer-class alternatives in the same fund-type cohort. Mechanical fee comparison only — does not factor in returns, risk, manager skill, or asset-allocation differences.
Frequently asked questions
How do AMP's fees compare to other NZ KiwiSaver schemes?
AMP's funds average 1.00% in annual fees versus a peer median of 0.75% across all NZ KiwiSaver scheme funds. 21 of 30 AMP funds charge above their fund-type peer median; 8 charge below.
What is the peer median fee for a NZ KiwiSaver scheme fund?
Across all NZ KiwiSaver scheme funds in our coverage, the median annual fee is 0.75%. Median is shown rather than average because a small number of very-high-fee funds would distort the average.
Why does fee level matter for KiwiSaver members?
Illustrative — fees compound across multi-decade investment horizons. A sample sub-1-percentage-point annual-fee difference on a sample balance can compound to a material foregone end-balance over 30 years. Mechanical illustration only — past performance is not a reliable indicator of future returns.
Important Information
Disclaimer: This page provides general information only and does not constitute financial advice under the Financial Markets Conduct Act 2013. FundCompare.co.nz is not a licensed Financial Advice Provider (FAP).
We do not assess suitability, make recommendations, or provide personalised advice. The information shown is sourced from publicly available data and may not reflect current offerings. Past performance is not a reliable indicator of future returns. Investment returns can be negative, and you may receive back less than you invested.
Before making any decisions: Always verify current information directly with the relevant KiwiSaver provider and read their Product Disclosure Statement (PDS).
Need personalised advice? Consult a licensed Financial Advice Provider. Find advisers at fma.govt.nz
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