AMP Bank's securitisation
AMP Bank established its Progress Trust securitisation program in 1997. As of 31 December 2016, AMP Bank has securitised approximately $17 billion in residential mortgage backed securities. Progress Trust is a regular issuer in the domestic and offshore securitisation markets.
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The information provided on these pages is intended for persons who are not retail clients and who are also professional investors, sophisticated investors or other investors in respect of whom disclosure is not required under Part 6D.2 or 7.9 of the Corporations Act 2001 of Australia. In accessing these pages you confirm that you are such a person. The information on these pages must not be accessed in the United States or by US persons. You confirm that you are not in the United States or a US person.
The information regarding the Progress Trust securitisation program on these pages is provided by AMP Bank Limited from its offices in Australia for informational purposes only. Nothing on these pages shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase or sale would be unlawful. Anyone accessing these pages does so on their own initiative, and is responsible for compliance with all applicable laws or regulations in the use of the information on these pages in all applicable jurisdictions. You agree that you will not provide the information on these pages to anybody in circumstances where the provision of the information would not comply with all laws and regulations in all applicable jurisdictions.
While AMP Bank has obtained the information on these pages from sources it believes reliable as at the date the information is posted on the website, it makes no representations or warranties with respect to its accuracy or currency and assumes no responsibility for updating or otherwise maintaining the timeliness of it.
Certain links are provided on these pages, which lead to pages maintained by AMP Bank for its banking business or to certain other websites and are not to be considered a part of these pages. AMP Bank does not accept any liability for any representations or warranties in respect of any products or services sold or provided to you by any third party available through any site linked to these pages. Your purchase of products or services through such third party sites is subject to agreements and terms and conditions in effect between you and the providers of products and services at those sites.
AMP Bank does not accept any responsibility for information downloaded from the AMP website.
All enquiries should be directed to:
Carly Clarke
Senior Securitisation Manager
Phone: 02 9257 4556
Email: Carly_Clarke2@amp.com.au
Corporate governance statement
Each year AMP issues a corporate governance statement. The statement sets out the corporate governance framework adopted by the board and outlines AMP's governance arrangements over the last financial year. The 2023 corporate governance statement forms part of the AMP 2023 annual reporting suite of documents.
View the corporate governance statement.
View all 2023 reporting materials here.
AMP Limited Board charter
The AMP Limited Board charter adopted by the board of directors of AMP outlines the roles and responsibilities of the board of directors and the management team and operates in conjunction with the AMP constitution and relevant laws.
Constitution
The current AMP Limited constitution was adopted by shareholders on 10 May 2012. The constitution outlines the rules for governing the company, including provisions dealing with the roles of the board of directors and shareholders.
Trustee information
The Annual Performance Test (APT) assesses the long-term investment performance of MySuper products and ‘Trustee-Directed Products’ (TDPs), being multi-asset investment options in the accumulation phase of superannuation which are managed by the Trustee or a related party.
The test is conducted by APRA under rules set out in the superannuation law. Investment options that don’t meet the benchmark, as set out by the superannuation 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 2024.
- AMP Super Fund – all MySuper and Choice TDP investment options available on SignatureSuper investment menu 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 their results, click here.
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.
As trustee of the AMP Super Fund and Wealth Personal Superannuation and Pension Fund, 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.
To view the product determinations for the AMP Super Fund (previously the Super Directions Fund) – click here
To view the product determinations for the North Funds – 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 or the North Service Centre on 1800 667 841.
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.
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.
Information on the composition of the Trustee Boards and details of Directors can be found here
Trustee documents and downloads
NM Super policies and disclosure documents
The purpose of this Conflicts Management Policy (Policy) is to document the policy, controls and processes that NM Super has in place to identify, record and manage conflicts of interest and conflicts of duty (each a Conflict). NM Super is responsible for managing each RSE for the benefit of the members of each RSE, in accordance with the relevant trust deeds, laws, regulations and licence conditions.
- NM Super register of relevant duties and relevant interests
- NM Super financial report 31 December 2023
- NM Super board meeting attendance record
- NM Super constitution
- NM Super nomination, appointment and removal of directors and governance policy
- NM Super outsourced service providers
Voting - The Proxy Voting Policy applies to NM Super.
AMP Super Fund (ASF)
Note: effective 1 October 2021 Super Directions Fund (SDF) was renamed to AMP Super Fund)
- ASF register of significant event notices
- ASF trust deed
- ASF Proxy Voting Summary
- ASF financial report 30 June 2024
- ASF defined benefit plan actuarial investigation reports:
Wealth Personal Superannuation and Pension Fund (Wealth)
- Wealth register of significant event notices
- Wealth trust deed
- Wealth Proxy Voting Summary
- Wealth financial report 30 June 2024
For links to the Product Disclosures and Financial Services guide please go to the following link.
NM Super closed products
From time to time a trustee will close a product. This means the product is no longer open to new members although existing members can continue to make contributions and withdrawals.
Once a product is closed to new members, the trustee will continue to notify all members of any changes to the product's features and benefits that may affect them. However, the trustee is no longer required to update the product's product disclosure statement (PDS) and any associated material, such as fact sheets.
The most recent copy of the PDS for all closed NM Super products for which a PDS has been issued is provided for your information. The information in the PDS was only current to the date on the front of the document. For information about the product after the issue date of PDS, please visit the product web page at the following sites: ASF and Wealth products: www.amp.com.au/superannuation, or emailing askamp@amp.com.au
Closed products with PDSs issued by NM Super
The AMP Group merged with AXA Asia Pacific Holdings Limited (now called AMP AAPH Limited) on 30 March 2011. At the time of the merger, NM Super was a subsidiary of AXA Asia Pacific Holdings Limited. NM Super is now a member of the AMP Group. Some of the PDSs below were issued by NM Super prior to the merger and do not feature current AMP Group branding.
Closed products with PDSs issued by another trustee
NM Super is now the trustee for some funds previously managed by another trustee. Some of the products in these funds are closed and the most recent PDS was issued by the previous trustee. The PDSs for these products are shown below. Some of the PDSs below were issued prior to the transfer of trustees and do not feature current AMP Group branding. NM Super makes no warranty as to the accuracy of the information they contain.
| RSE | Most recently issued PDS and associated material for the closed product | Issued by |
| FirstQuest | First Quest Retirement Service - Term Allocated Pension | Synergy Capital Management Limited |
| Synergy | Personal Choice Retirement Plan Allocated Pension | Synergy Capital Management Limited |
| Synergy | Personal Choice Retirement Plan Super | Synergy Capital Management Limited |
| Synergy | Synergy Retirement Services - Term Allocated Pension | Synergy Capital Management Limited |
| ASF (was SDF) | Flexible Lifetime - Term Pension | AMP Superannuation Limited |
| ASF (was SDF) | Flexible Lifetime - Allocated Pension | AMP Superannuation Limited |
For any queries regarding these documents, please e-mail polinfo@amp.com.au.
ASL policies and disclosure documents
AMP Retirement Trust (ART) is now closed; the following documents are presented for historical purposes
- ART annual report 2019
- ART register of significant event notices
- ART remuneration disclosures
- ART trust deed
AMP Superannuation Savings Trust (SST) is now closed; the following documents are presented for historical purposes
ASL closed products
On 15 May 2020, all products, with the exception of the AMP Eligible Rollover Fund, were transferred to NM Superannuation Limited as part of a Successor Fund Transfer (SFT).
Refer to the Equity Trustees section (above) regarding the AMP Eligible Rollover Fund.
Board committee
The AMP Limited Board has established four permanent committees to assist the board in the execution of its responsibilities. The permanent committees are the Audit, Risk, Remuneration and Nomination Committees. From time to time the board may also establish other ad hoc committees. The board’s committees focus on different areas, considering issues, making recommendations and taking action as necessary.
Audit committee
Responsible for:
- overseeing the integrity of the financial statements
- reviewing the effectiveness of AMP’s risk management framework
- endorsing the appointment of the Director, Internal Audit and the external auditor
- monitoring the performance, adequacy and independence of the external and internal audit functions
View the Audit Committee charter
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Nomination Committee
Responsible for:
- reviewing the composition of the board and the boards of the main subsidiaries
- overseeing succession planning for the board and the boards of the main subsidiaries
- planning board, committee and director performance review planning
View the Nomination Committee charter
Remuneration Committee
Responsible for:
- reviewing and endorsing the remuneration arrangements for certain executives and non-executive directors
- monitoring the effectiveness of AMP’s strategies for executive succession, talent management and diversity
- endorsing AMP’s remuneration policy
- reviewing or approving matters relating to AMP’s key incentive plans
View the Remuneration Committee charter
Risk and Compliance Committee
Responsible for:
- overseeing the implementation and operation of AMP’s enterprise risk management framework
- monitoring and reviewing AMP’s risk culture
- approving material risk management and compliance policies
- endorsing AMP’s risk management strategy and risk appetite statement
- endorsing the appointment of the chief risk officer
Regulatory Disclosures
Regulatory Disclosures
Corporate Policies and Statements
For AMP, doing the right thing by the people who depend on us is more than a legal and ethical obligation. It’s an essential part of who we are. Our code of conduct sets out the behaviour we expect of everyone who represents AMP. The code is supported by our employee policies, which govern the way we operate to best serve our customers and business and meet our legal and regulatory obligations.
External suppliers play an important role in helping the AMP group achieve its business objectives and meet community expectations. Suppliers need to adhere to values that are consistent with AMP’s own policies and standards. The purpose of this Supplier Code of Practice is to communicate AMP’s policies and standards as they relate to our dealings with suppliers.
AMP is committed to providing an inclusive and diverse working environment where high performing people choose to work. We believe an inclusive and diverse workplace delivers better results for our shareholders, customers, employees, business partners and communities.
We are committed to ensuring our shareholders receive clear, transparent and timely information about our business. Our market disclosure policy outlines the processes we have in place to ensure we provide all shareholders with equal and timely access to material information about AMP.
AMP adopts a bi-partisan approach to politics and actively engages in conversations with the government, the opposition, backbenchers and local communities about contemporary and future financial issues and opportunities.
AMP does not make donations for political purposes, but we pay to attend events that have been organised by political parties, such as party conferences to allow for discussion on major policy issues with key opinion leaders and policy makers. We believe this debate makes a valuable contribution to the development of public policy and is therefore of benefit to the Australian community and our customers. AMP publicly declares contributions to political parties consistent with the requirements of the Australian Electoral Act.
AMP expects directors and employees of the company to act with integrity and honesty at all times.
Our trading policy outlines rules for directors, senior executives, other specified employees and their close associates for trading in AMP securities. The policy is designed to protect the interests of all AMP shareholders and to ensure that directors, employees and their close associates comply with the law when trading in AMP securities.
This policy also provides that directors, senior executives and other specified employees who participate in our equity incentives plans may not use any form of hedging arrangement in relation to AMP shares or rights to shares.
The board of directors of AMP Limited and Group Leadership Team are committed to a whistleblower program that encourages, protects and supports responsible reporting of wrongdoing, including fraud, corrupt conduct, questionable accounting and inappropriate workplace behaviour.
Professionalism, honesty and integrity are core to our culture. In a business like ours, everything we do needs to be measured against the highest possible standards. This is more than a legal obligation – it is a fundamental part of who we are and our culture of integrity, help and performance. With our commitment to reporting wrongdoing, we will continue to build a supportive work environment, which aligns with our values.
Whether you are a current employee, work with AMP as a contractor or supplier, or are a former employee, if you become aware of wrongdoing, we want to know about it. Don’t ignore it. Your commitment can help prevent loss and harm caused by unethical, illegal and irresponsible acts. You can make a difference by getting involved and doing what is right.
If you don’t feel comfortable or safe reporting wrongdoing to your leader or to the People & Culture Advice Line (for AMP employees), you can make a confidential and anonymous report to Your Call. Your Call is an external and independent provider who will bring your information or concerns to our prompt attention, while keeping your information and identity confidential. Contact Your Call via:
- A dedicated hotline: 1300 790 228 (Australia) or 0800 123 508 (New Zealand)
- Email to amp@yourcall.com.au
- Online at www.yourcall.com.au/report using AMP1849 as the organisation ID
- Mail to Locked Mail Bag 7777, Malvern VIC 3144 Australia
If you are deaf, or have a hearing or speech impairment, you can contact Your Call online or through the National Relay Service (Australia only). Simply choose your contact method at www.relayservice.gov.au and request Your Call’s hotline 1300 790 228.
At AMP, we act professionally with honesty and integrity and comply with our legal and regulatory obligations. Preventing bribery and corruption is key to upholding these principles.
AMP has no tolerance for bribery and corruption by any officer, employee, aligned adviser (authorised representative), temporary agency staff, agent, contractor, subsidiary or controlled entity of the AMP Group, or a person that otherwise performs services for or on behalf of AMP.
AMP is committed to providing a work environment that supports and maintains optimal physical and psychological health, safety and wellbeing of our people.
View our Workplace Health Safety and Wellbeing Global Policy
What are Anti-Money Laundering laws?
The Government introduced the Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) Act 2006. This law requires businesses that provide certain financial services to identify their customers before providing a service, and to report suspicious transactions.
What is money laundering?
Money laundering is the process criminals use to disguise the source of illegally obtained money so that it appears to have come from legitimate sources.
What is terrorist financing?
Terrorist financing is the act of providing financial support to terrorists or terrorist organisations to enable them to carry out terrorist acts.
What do these laws set out do?
Australia has implemented these laws to improve its existing Anti-Money Laundering and Counter Terrorism Financing (AML/CTF) system and bring it in line with international standards. The laws will make it difficult for criminals to use the profits of crime and terrorists to receive money for use in terrorist acts. AMP is committed to complying with the AML/CTF laws and principles in all jurisdictions where it does business. All members of the AMP Group that provide financial services in Australia have adopted a Joint AML/CTF Program which meets the requirements of the AML/CTF Rules Instrument 2007 (No. 1).
What are the requirements of the legislation?
When applying for a new product or service, individual investors must provide verification information such as a certified copy of a passport or driver’s licence. For non-individuals such as companies and trusts, more information will be required, for example a certified copy of an ASIC certificate of registration or trust deed. AMP has implemented formal policies and procedures for:
- both face to face and non-face to face verification. For non-face to face verification we will ask you to provide us with a “wet-ink” certified copy of your identification documents or you can provide consent for us to conduct an electronic verification of your identity.
- identification, monitoring and periodical review of political exposed persons (PEP). A PEP is a person who holds a prominent public position or function in a government body or an international organisation, or is an immediate family member or close associate of such a person.
- senior management sign-off of PEP customers or other customers from countries, businesses or with products with the greatest risk of money laundering or terrorism financing.
What are the products and services covered by the laws?
All financial services providers offering products covered by the legislation, including managed investments, superannuation and shares in a listed company or trust, must meet the customer identification requirements. As such all AMP products are covered.
How will AMP safeguard information?
All financial services providers covered by the legislation are required to keep client information in a safe and secure environment, as required by the AML/CTF Act and the current Australian privacy legislation. The current Australian privacy legislation covers the collection, use, disclosure, quality and security of personal information.
The AMP Limited Board is committed to creating a safe, respectful, and inclusive workplace environment, consistent with AMP’s purpose and values.
AMP’s risk management framework governs the management of risk across AMP group and embeds risk management into decision making to support AMP’s risk culture. The framework includes risk governance roles and responsibilities, risk appetite and strategy, and the risk processes and systems that support identification, assessment, actions, treatment, outcomes and reporting of risks.
For further information refer to the Corporate Governance Statement and Annual Report.
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