AMP Flexible Super passes milestone
AMP's super product AMP Flexible Super has passed a milestone, notching up over $10 billion in assets under management this month.
Commenting on the achievement, AMP director of Contemporary Wealth Management, Patricia Montague, said the $10 billion milestone was testament to the product's flexible structure which made it suitable for individuals regardless of their superannuation balance or stage of life.
"The success of AMP Flexible Super since its launch in 2010 has been phenomenal and we are continuing to see strong growth, with customer numbers increasing by more than 26 per cent, up from 172,000 customers at FY 2012 to 216,000 at the end of October," she said.
Montague said she believed the appeal of AMP Flexible Super was that for customers — from their first job, through to having a family and retirement — it provided one account for life at a low cost.
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