The new funds, called the North Guardian range, will invest in a mix of Australian and international equities, fixed income and cash with underlying growth, balanced or moderately defensive options.
“The Guardian range is a great combination with the North guarantee as it offers customers the flexibility to invest in a growth, balanced or moderately defensive option,” AMP’s director of platforms Steve Burgess said.
“The North guarantee option is a popular choice for customers because it allows them to be invested in growth assets and provides protection so they won’t run out of money for their retirement.”
The three new funds are the only funds available for new customers seeking a guarantee, with the previous guarantee options remaining open to existing customers only.
AMP also said it had made changes to its pricing to make the guarantee more affordable.
The price of the most popular guarantee option, the Protected Growth 10-year term, has dropped from 1.8 per cent to 1.5 per cent per annum.
AMP said the North Guardian range aims to provide a rate of investment growth similar to traditional diversified funds with comparable asset allocations.
The fund manages short-term market fluctuations by increasing or decreasing exposure to shares based on estimated volatility, AMP stated.
