AMP Balanced No. 4

Despite its "Balanced" name, this fund sits in the Growth category with 62% in growth assets, a deliberate mismatch that places it at the cautious end of the growth spectrum. The allocation leans heavily into bonds: nearly 40% sits in New Zealand and international fixed interest, with the top ten holdings dominated by New Zealand government bonds, including three inflation-linked issues maturing between 2030 and 2040. Fisher & Paykel Healthcare leads at 2.01%, followed by a 2035 inflation-linked government bond at 1.94%, then NVIDIA and Apple. The growth sleeve is split between 37% international shares and 15% Australasian equities, with Auckland Airport also making the top ten.

Performance tells a divergent story. The fund placed 16th in its category over one year with a 10.5% return, but drops to 23rd over three years and 25th over five years, where its 3.8% annualised return lags well behind the category's more aggressive peers. Total fees run to 0.79%, comprising a 0.69% management charge plus smaller performance and other fees. At $79 million in assets under management, it is a modest fund within AMP's stable, built for members seeking growth exposure with a substantial bond buffer.

General information only, not financial advice. Past performance is not a reliable indicator of future results.