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AMP Capital: Strong returns for diversified funds

AMP Capital Investors Limited For immediate release:

23 February 2006

Strong returns for diversified funds over the quarter and year

Diversified funds again performed strongly over the December 2005 quarter, Grant Hassell, Senior Portfolio Manager Fixed Interest said today. Mr Hassell said that global growth drove the strong performance of the diversified funds.

“Over the quarter the lower risk diversified fund returned 2.22%, the medium risk diversified fund returned 2.76% and the high risk diversified fund returned 3.49%.

“The strong returns over the quarter added to the good performance of the diversified funds for the previous nine months. Over the year to December 2005, the low, medium (balanced) and high equity diversified funds returned 9.76%, 12.79% and 16.78% respectively. Investment risk was well rewarded over the year, as these returns compare with a cash sector return of around 7%,” said Mr Hassell.

“The New Zealand share market failed to perform over the quarter - the actively managed New Zealand strategic equity component of AMP Capital’s diversified funds returned -2.98%. The New Zealand property market produced stronger results for the quarter – the diversified funds’ property component returned 2.37% - and the global listed property component had a healthy return of 5.52%. Over the quarter the global share component returned 5.19% on a currency hedged basis.


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