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Fund profiles
| AMP CustomSuper |
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Overview:
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CustomSuper gives employers a flexible corporate superannuation solution that provides competitive fees, a wide range of investment options and insurance cover at group rates for their employees. CustomSuper offers employers an easy solution for managing their superannuation obligations, with leading edge technology and electronic contribution systems. CustomSuper is provided by AMP. AMP is a leading retirement solutions provider and one of the largest investment managers in Australia. AMP has been looking after Australians’ superannuation for more than 60 years and provides superannuation, retirement and insurance benefits for over 560,000 members in Australia. This means AMP has the experience and capabilities to create a superannuation solution suited to employers’ and employees’ needs. |
| Year of Establishment: |
1993 |
| Value of Funds: |
$5.9 billion (as at 30 September 2009) |
| Key Features: |
- Flexible contributions - the member, the employer sponsor and spouse can invest into member's account.
- Wide investment choice, members can choose up to 10 investment options, from a range of 66 investment options managed by the leading Australian and international investment managers. Unlimited free switching available.
- Insurance cover options chosen by the employer sponsor - Death, TPD and TSC - at group rates (with a 2 year or "to age 65" benefit payment period for TSC) and with automatic acceptance up to a certain limit.
- Competitive fee structure, including 3 levels of rebates, eg increasing fee rebates for larger account balances - we take into account the combined account balance of the employer plan.
- Comprehensive member education, communication and reporting - online and face-to-face.
- Online account access that gives members 24 hour access and up to date information on their super account.
- Leading administration systems and integrated technology.
- Electronic contributions, clearing house, policy committee support, super updates and reporting for employers.
- Dedicated Business Relationship Manager and Business Development Manager.
- Extra benefits such as family members can join the plan at the same fee structure as the employee member, financial/retirement planning, financial seminars, and banking package.
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| Administrator: |
AMP Life Limited |
| Auditors: |
Ernst & Young |
| Custodian: |
BNP Paribas |
| Asset Consultant: |
AMP Life Limited, AMP Capital Investors, Mercers Investment Consulting principal adviser, Dorset (absolute return funds adviser) and StepStone Group LLC (private equity investment management and advisory services for the multi manager Future Directions Funds range. |
| Lawyers: |
AMP Legal |
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CustomSuper has a dynamic investment menu
CustomSuper's investment menu is designed to accomodate a wide range of ivnestment preferences of members. The CustomSuper investment menu offers:
- An actively monitored range of options
- 66 investment options
- Multi-manager and single manager options
- Variety of investment styles
- Diversified, single sector and specialist options
CustomSuper's dynamic menu provides exposure to the latest strategies
AMP recognises that members have different investment goals. CustomSuper allows members to tailor their investment strategy to meet their objectives. The CustomSuper investment menu includes the following strategies:
- Absolute return via fund of hedge funds
- Geared share investing
- Extended markets investing (i.e. in emerging markets, international small caps, Asian shares, etc)
- International infrastructure
- Socially responsible investing
Members have the flexibility to choose their investments
AMP recognise that members have different investment goals. SignatureSuper allows members to tailor their investment strategy to meet their objectives. Some of the features of CustomSuper's flexible investment offering to members are:
- Members acn choose any combination of up to 10 options, or use the SignatureSuper LifeStages investment approach
- There are no minimum balance or contribution requirements
- There are no requirements to invest in AMP options
- A separate approach is allowed for account balance, and future contribution
- Daily unit pricing (except for AMP Super Cash which is a crediting rate investment option)
- Free switching
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| Insurance Available: |
Death, Death / TPD, Income Protection. |
| Extra Benefits: |
Family members can join the plan at the same ee structure as the employee member, financial/retirement planning, financial seminars, online account details/transactions and banking package. |
| Communications: |
Membership Booklets; Investment Booklets; Insurance Booklets; publications and monthly investment performance available on website. |
| Employer Services: |
Dedicated account manager, policy committee assistance, online contribution payments, clearing house, regular and online reporting, full range of member seminars and education program. |
| FEES |
| Establishment fee |
Up to 1% of initial assets transferred into CustomSuper. |
| Contribution fee |
Negotiated between client and planner and may range from nil up to a maximum 4.5% of each contribution received. |
| Asset Administration fee |
All Admin Fees, Investment Management Fees, and Expense Recoveries are charged as one fee known as the Management Fee and cannot be disclosed separately. Investment options ranges from 1.75% to 2.80%. A Management Fee Rebate may apply if your total account balance is at least $100,000 or if the total assets in the employer plan are $1.5m or more at the end of each month. |
| Issuer fee |
Up to 10% of insurance fee (incl stamp duty). |
| Trustee/Expense Recovery fee |
Included in Management Fee. |
| Management Cost - member fee ($ per week / annum) |
If member's account balance is $10,000 or more: NIL.
If member's account balance is between $1,000 and $10,000: $7.75 |
| Management Cost - investment fee (% p.a.) |
Included in Management Fee. |
| Additional Adviser Servicing fee |
Negotiated with the planner. |
| Fee Discounts |
Management Fee Rebate applies if a member's account balance is greater than $100,000 or if the total assets of the plan are $1.5 million or more at the end of each month. The maximum Management Fee Rebate is 1.40% pa of member's account balance. |
CustomSuper members may receive management fee rebates of up to 1.40% p.a. depending on the size of the assets in their companies CustomSuper plan and the account balance of the member. For details of the management fee rebate that may apply call CustomSuper on 1300 653 456 or email customsuper@amp.com.au
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