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AMP : Australian Wealth Management Unit's Q3 AUM Flat On Prior Quarter

AMP Ltd. (AMLTF.PK, AMP.AX) said that its Australian wealth management unit's assets under management or AUM was A$131.2 billion in the third-quarter of 2021 remained flat on the prior quarter. Average AUM increased A$3.7 billion to A$132.4 billion.

Australian wealth management's net cash outflows was A$1.4 billion in third-quarter of 2021 improved from A$1.8 billion net cash outflows in last year, with the improvement largely attributed to an absence of Early Release of Super (ERS) payments, which were A$692 million in the prior year.

AMP Bank's total loan book grew by A$0.3 billion to A$21.3 billion in third-quarter 2021, driven by competitive owner-occupied pricing.

AMP Capital AUM reduced 4 percent to A$180.3 billion, primarily reflecting an increase in net cash outflows.

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