Business News

    AMP (ASX:AMP) reports cash outflows down 30% to $600M

    Article Image

    AMP (ASX:AMP) has reported its Q1 2023 results, highlighting strong growth and favourable updates across various segments.

    The company's loan book grew by $0.2B to $24.2B, and its Australian Wealth Management (AWM) assets under management (AUM) increased by $2B to $126.2B.

    AWM net cash outflows also improved by over 30% to $600M.

    In addition, North inflows from independent financial advisers (IFAs) rose 30% compared to Q1 2022, and New Zealand Wealth Management's KiwiSaver net cashflows increased to $44M, a significant increase from Q1 2022's $10M.

     

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa