Annual Performance Test

The Annual Performance Test (APT) was introduced in July 2021 to assess the long-term investment performance of MySuper products. From 1 July 2023, the APT was expanded to apply to Trustee-Directed Products (TDPs), being multi-asset investment options in the accumulation phase of superannuation and managed by the Trustee or a connected entity (related party).

The test is conducted by APRA and investment options that don’t meet the benchmark, as set out by the regulations, are classed as underperforming.

APRA has notified NM Superannuation Pty Ltd (as Trustee) of the AMP Super Fund and Wealth Personal Superannuation and Pension Fund of the APT results for 2023.

• AMP Super Fund – all MySuper and Choice TDPs on SignatureSuper that were subject to the test have passed.
• Wealth Personal Superannuation and Pension Fund – To view the TDP investment options that were subject to the test and failed, click here.

Summary of Retirement Income Strategy

The AMP Retirement Income Strategy (the Strategy) is comprised of the Retirement Income Strategies for the AMP Super Fund and Wealth Personal Superannuation and Pension Fund.  The Strategy is issued by N.M. Superannuation Pty Ltd as trustee (the Trustee).

The Strategy aims to increase comfort and confidence for Australian retirees. Our strategic ambition is to be the leading provider of retirement solutions in Australia, and to support retirees with a broad range of guidance, support and advice to empower them to enjoy their best possible retirement. This aligns to the Trustee’s vision to operate with autonomy and objectivity in providing the best possible retirement outcomes for members.

This Strategy applies to all AMP superannuation members approaching and in retirement, and more broadly to all Australians who wish to experience a more comfortable and confident retirement by joining AMP.

Member annual outcomes assessments

As trustee of the AMP Super Fund and Wealth Personal Superannuation and Pension Funds, every year we’re required to assess the performance of the super and retirement products we oversee, to make sure they continue to promote members’ financial interests.

Our product determination is what we produce, to show the results of our assessment and must be provided for each superannuation product offered. (Note: effective from 1 October 2021 the Super Directions Fund was renamed to the AMP Super Fund.)

To view the product determinations for the AMP Super Fund – click here

To view the product determinations for the Wealth Personal Superannuation and Pension Fund (including North products) – click here

If you’d like more information about the member outcomes assessments or would like to speak to someone about your super or retirement, please contact AMP on 131 267, the North Service Centre on 1800 667 841, the PortfolioCare Service Centre on 1800 646 234, or the WealthView Service Centre on 1800 006 230.

To link to Annual Members Meeting (AMM) information - click here.

Trustee details

NM Superannuation Proprietary Limited ABN 31 008 428 322 is the trustee of the following RSEs:

• Wealth Personal Superannuation and Pension Fund (Wealth)
• AMP Super Fund (ASF)

NM Superannuation Proprietary Limited, as a trustee, is responsible for:

• all aspects of the operation of the RSEs
• ensuring the RSEs are properly administered in accordance with their trust deeds
• ensuring the RSEs comply with relevant legislation.

Key Management Personnel 

The Key management Personnel of the Trustee (from 1 January 2023) are its board of directors for the period and the executives noted below. 

Melinda Howes 

Group Executive, Superannuation and Investments

Melinda was appointed Group Executive Superannuation and Investments in January 2024, joining from KPMG where she led the Actuarial and Data Analytic team. She leads AMPs investment business and the Superannuation (Master Trust) business which serves personal and corporate super members. 

Melinda has deep expertise in superannuation with more than 30 years in the industry. She also has experience in wealth management, life insurance, general insurance and not for profit organisations, including as CEO of the Actuaries Institute and Policy Director at ASFA.

Having spent eleven years at BT Financial Group in the 1990-2000’s, Melinda was Managing Director, Superannuation for seven years from 2014 where she led the transformation and simplification of BT’s complex heritage superannuation business to a modern digital enterprise, migrating $31bn and 560,000 members from multiple products to the go-forward offer.

Melinda is an actuary and is a Fellow of the Institute of Actuaries of Australia. She has executive and non-executive director experience and is a graduate of the Australian Institute of Company Directors. She has been an active member of ASFA and the FSC over many years, including serving on ASFA’s board and the FSC superannuation board committee.

Anna Shelley

Chief Investment Officer, Executive Director

Anna has an extensive background in investment management, investment advice, business strategy and product strategy and development. Anna spent the first 14 years of her career at JANA Investment Advisers as a Principal Consultant, Head of Australasian Equities research and Deputy Head of Consulting. She then worked at MLC Investment Management as Head of Product, responsible for $62bn of retail and institutional products, before moving to Perpetual Investments where she was General Manager, Product and Strategy across Perpetual's $33bn FUM. After relocating to Melbourne, Anna became Chief Investment Officer of Catholic Super, a $10bn industry fund which then merged with Equipsuper in October 2019 to form a $30bn fund. As CIO of the combined funds, she had responsibility for all aspects of investment management, and was responsible for the new investment design which has more than halved Catholic Super's investment fees. Anna is currently Chief Investment Officer of AMP Wealth Management, with circa $105bn FUM across Super, Retirement and Goals-Based Products.

Edwina Maloney

Group Executive, Platforms

Edwina was appointed Group Executive Platforms in July 2023. The Platforms business provides superannuation, retirement and investment solutions to advisers and their clients.

Edwina is a seasoned executive, board director, consultant, and transformational leader having held senior executive roles across wealth management; superannuation and funds management businesses. In June 2021, Edwina was appointed Director, Platforms at AMP, with end-to-end accountability for AMP’s Wealth Superannuation Fund, Wrap Platforms and SuperConcepts SMSF business (which was sold on 30 June 2023).

Previously, Edwina led AMP Capital’s Global Product function, responsible for its Managed Investment Schemes, offshore domiciled funds and separate accounts. Before AMP, Edwina held various senior leadership roles at Perpetual Investments responsible for strategy; business development; product innovation and management functions. She was also a management consultant with Accenture specialising in wealth management and began her career as a lawyer with DLA Piper (then Phillips Fox).

Edwina holds a Bachelor of Laws (QUT) and a Graduate Diploma in Applied Finance & Investment (FINSIA). She is a Director of ASFA.

Jason Sommer

Director, Transformation and Investments and Acting Group Executive, Superannuation & Investments

_{Key Management Personnel ceased January 2024}

Jason is a highly successful transformational executive leader. His executive leadership experience spans the superannuation, investment management and life insurance sectors of financial services, and includes investment operations, product, people and culture, finance, strategy and transformation functions.

He has more than 25 years' experience in the financial services industry. Before joining AMP, Jason was an executive at Sunsuper and within the Corporate and Institutional Wealth business of the NAB Group. At both organisations he was part of the executive team to transform these businesses into high performing industry leaders. At AMP Jason is accountable for the Investments business and transformation across Australian Wealth Management. Jason holds a Bachelor of Economics and is a Fellow of the Institute of Actuaries of Australia.

Ilaine Anderson

Director, Superannuation and Retirement

_{Key Management Personnel ceased December 2023}

Ilaine was appointed into the role of Director, Superannuation and Retirement within AMP Australia in June 2021. Prior to this, Ilaine was the Managing Director of Workplace Superannuation in AMP. 

Ilaine has extensive experience in professional services and wealth management industries, leading client facing teams and marketing functions in Australia and the UK. Ilaine is an experienced senior executive known for building best-practice customer-centric businesses delivering exceptional outcomes for customers and members.

Ilaine is MBA Qualified, is a graduate of Australian Institute of Company Directors and a Board Member for “Financial Executive Women”.

Scott Hartley

Chief Executive Officer (CEO), Australian Wealth Management

_{Key Management Personnel ceased July 2023} 

Scott was appointed CEO of Australia Wealth Management in January 2021, responsible for AMP’s wealth management division with a focus on delivering leading customer outcomes to drive the long-term growth of the business. 

Scott Hartley has more than 25 years’ experience in executive management roles including over 20 years in the wealth management industry.

Most recently, Mr Hartley was the CEO of Sunsuper. Under his leadership from 2014 to 2019, Sunsuper grew to become the fourth largest by number of clients and the fastest growing “Top 10” superannuation and retirement business. Strong organic growth of the business was also supplemented by two successful mergers with Kinetic Super (A$4 billion and 250,000 members) and Austsafe Super (A$2.7 billion and 100,000 members).

Prior to Sunsuper, Mr Hartley was the Executive General Manager of Corporate and Institutional Wealth at NAB Wealth from 2009 to 2013, including leading subsidiaries Plum Financial Services and Jana Investment Advisors.

Mr Hartley holds a Bachelor of Business Administration from the Queensland University of Technology.

Stuart Eliot

Acting Chief Investment Officer

_{Key Management Personnel ceased December 2023}

Stuart Eliot joined AMP in April 2022 as the Head of Portfolio Management for AMP Investments. 

Stuart brings more than 30 years of diverse financial markets experience to AMP from his previous roles including 12 years with Pendal Group as Senior Portfolio Manager, Multi-Asset Investments and Portfolio Manager, Diversified Funds. 

Stuart’s experience extends across strategic and dynamic asset allocation, portfolio management and investment research, including a strong focus on responsible investing. 

Prior to joining AMP, Stuart held senior investment banking, trading and quantitative research roles encompassing multiple asset classes at several leading investment banks.

Executive Officers

The Executive Officers of the trustee (from 1 January 2022 - 31 December 2022) were its board of directors for the period and the executive noted below. 

Sharon Suan

Superannuation Trustee Executive, Superannuation Trustee Office

_{Executive Officer for the full period}

Sharon was appointed to the role of Superannuation Trustee Executive, Superannuation Trustee Office in December 2019 after acting in this position since June 2019.  Prior to this time, Sharon was Head of Investment and Insurance Regulatory Governance for over 2 years. The Superannuation Trustee Office is responsible for assisting the trustees of AMP’s superannuation funds to operate in compliance with their regulatory, fiduciary and licensing obligations.

Prior to joining AMP in 2012, Sharon was at the Reserve Bank of Australia (RBA) for over 13 years where she worked on retail payments regulatory projects, supervised performance and risk reporting of the RBA’s foreign and domestic asset portfolios, and monitored compliance with the RBA’s portfolio and risk management framework.  Her last role prior to joining AMP was as Head of the Victorian Office (Economic Group), managing the local operations and liaison program with major businesses, industry organisations, and government agencies.

Sharon holds a Bachelor of Economics (Hons) from the University of Western Australia, and is a CFA Charterholder. 

Anna Shelley

Chief Investment Officer, Executive Director

_{Executive Officer for the full period}

Anna has an extensive background in investment management, investment advice, business strategy and product strategy and development. Anna spent the first 14 years of her career at JANA Investment Advisers as a Principal Consultant, Head of Australasian Equities research and Deputy Head of Consulting. She then worked at MLC Investment Management as Head of Product, responsible for $62bn of retail and institutional products, before moving to Perpetual Investments where she was General Manager, Product and Strategy across Perpetual's $33bn FUM. After relocating to Melbourne, Anna became Chief Investment Officer of Catholic Super, a $10bn industry fund which then merged with Equipsuper in October 2019 to form a $30bn fund. As CIO of the combined funds, she had responsibility for all aspects of investment management, and was responsible for the new investment design which has more than halved Catholic Super's investment fees. Anna is currently Chief Investment Officer of AMP Wealth Management, with circa $105bn FUM across Super, Retirement and Goals-Based Products.

Edwina Maloney

Group Executive, Platforms

_{Executive Officer for the full period}

Edwina was appointed as the Director for Platforms at AMP in June 2021 following over 20 years’ experience in asset and wealth management industries.  Her previous roles included Global Head of Product for AMP Capital and various leadership roles at Perpetual Limited and Accenture. 

Edwina has over 20 years’ experience building and leading high performing global teams across a range of functions including product, business development, sales, strategy and business transformation change programs.

Edwina holds a Bachelor of Laws from the Queensland University of Technology and was admitted as a Lawyer to the QLD Supreme Court in 1999.  She also has a Graduate Diploma In Applied Finance and Investment (FINSIA).

Julia Pryor

Chief Risk Officer, Wealth

_{Executive Officer for the full period}

Julia was appointed to the role of Chief Risk Officer (CRO), Superannuation, Retirement & Platforms in September 2020. As CRO for Superannuation, Retirement & Platforms, Julia has responsibility for the risk oversight of the wealth products business at AMP and is the risk partner to the Trustees.

Prior to joining AMP, Julia held executive risk and legal roles at other major RSE (superannuation) licensees, including MLC Limited (which was part of National Australia Bank). She has 25 years experience in the superannuation and funds management industry in Australia.

Julia has degrees in Law and Arts, and an Executive MA, from Melbourne University.

Jason Sommer

Director, Transformation and Investments and Acting Group Executive, Superannuation & Investments

_{Executive Officer for the period 8 November 2022 - 31 December 2022}

Jason is a highly successful transformational executive leader. His executive leadership experience spans the superannuation, investment management and life insurance sectors of financial services, and includes investment operations, product, people and culture, finance, strategy and transformation functions.

He has more than 25 years' experience in the financial services industry. Before joining AMP, Jason was an executive at Sunsuper and within the Corporate and Institutional Wealth business of the NAB Group. At both organisations he was part of the executive team to transform these businesses into high performing industry leaders. At AMP Jason is accountable for the Investments business and transformation across Australian Wealth Management. Jason holds a Bachelor of Economics and is a Fellow of the Institute of Actuaries of Australia.

Ilaine Anderson

Director, Superannuation and Retirement

_{Executive Officer for the period 1 January 2022 - 8 November 2022}

Ilaine was appointed into the role of Director, Superannuation and Retirement within AMP Australia in June 2021. Prior to this, Ilaine was the Managing Director of Workplace Superannuation in AMP. 

Ilaine has extensive experience in professional services and wealth management industries, leading client facing teams and marketing functions in Australia and the UK. Ilaine is an experienced senior executive known for building best-practice customer-centric businesses delivering exceptional outcomes for customers and members.

Ilaine is MBA Qualified, is a graduate of Australian Institute of Company Directors and a Board Member for “Financial Executive Women”.

Scott Hartley

Chief Executive Officer (CEO), Australian Wealth Management

_{Executive Officer for the full period}

Scott was appointed CEO of Australia Wealth Management in January 2021, responsible for AMP’s wealth management division with a focus on delivering leading customer outcomes to drive the long-term growth of the business. 

Scott Hartley has more than 25 years’ experience in executive management roles including over 20 years in the wealth management industry.

Most recently, Mr Hartley was the CEO of Sunsuper. Under his leadership from 2014 to 2019, Sunsuper grew to become the fourth largest by number of clients and the fastest growing “Top 10” superannuation and retirement business. Strong organic growth of the business was also supplemented by two successful mergers with Kinetic Super (A$4 billion and 250,000 members) and Austsafe Super (A$2.7 billion and 100,000 members).

Prior to Sunsuper, Mr Hartley was the Executive General Manager of Corporate and Institutional Wealth at NAB Wealth from 2009 to 2013, including leading subsidiaries Plum Financial Services and Jana Investment Advisors.

Mr Hartley holds a Bachelor of Business Administration from the Queensland University of Technology.

Trustee Boards and Directors

Information on the composition of the Trustee Boards and details of Directors can be found here

Trustee documents and downloads