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AMP Ltd Q3 AWM Assets Under Management Increases

AMP Ltd. (AMLTF.PK, AMP.AX) reported that Australian wealth management or AWM assets under management or AUM for the third-quarter increased 0.3 per cent to A$121.4 billion from A$121.0 billion in the prior quarter, supported by improved investment markets. Average third-quarter AUM increased 2 percent to A$122.1 billion from A$120.0 billion in the previous quarter.

AWM net cash outflows of A$1.95 billion were broadly flat compared to the prior year.

AMP Capital AUM reduced by 0.4 percent to A$189.2 billion reflecting cash outflows, and average AUM decreased to A$189.8 billion from A$191.9 billion in the prior quarter.

New Zealand wealth management total AUM for the third-quarter increased 1.2 percent to A$11.8 billion from A$11.6 billion in the previous year.

The company said it is accelerating its business transformation, and continuing to mitigate its legacy issues including its client remediation program which remains on track to complete in 2021.

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