AMP Conservative Fund (Lifesteps)
Amp Conservative Fund (Lifesteps) is a conservative KiwiSaver fund managed by AMP. It has 5,154 members and holds $275 million. It opened in 2007.
Fees and returns
- Annual fee
- 0.76% of your balance each year
- Return over 1 year
- +4.6% a year
- Return over 3 years
- +5.2% a year
- Return over 5 years
- +2.3% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
What it invests in
New zealand fixed interest 37%, international fixed interest 25%, cash and cash equivalents 17%, international equities 14%.
Largest holdings
- New Zealand Government Inflation Linked Bond - maturing 20 Sep 2035 2.31%
- New Zealand Government Bond - maturing 20 Apr 2029 2.23%
- New Zealand Government Bond - maturing 15 May 2030 1.96%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +4.6% |
| 2024/25 | +4.2% |
| 2023/24 | +6.7% |
| 2022/23 | −2.3% |
| 2021/22 | −1.5% |
| 2020/21 | +7.5% |
| 2019/20 | −0.3% |
| 2018/19 | +4.5% |
| 2017/18 | +2.8% |
| 2016/17 | +3.6% |
About this fund
This is AMP's Conservative Fund offered within the Lifesteps pathway — AMP's set-and-forget option that automatically reduces growth-asset exposure as you age. The current holdings are the same conservative mix: mainly fixed interest and cash with a small growth allocation, managed on a predominantly index-tracking basis, with AMP's sustainable-investment exclusions. Annual fund charge: 0.76%.