AMP bids to reassure investors on outflows

Original article by Cliona O’Dowd
The Australian – Page: 17 : 23-Oct-20

AMP CEO Francesco De Ferrari says the company has been resilient during the coronavirus pandemic. However, the wealth manager has reported net outflows of $8bn for the September quarter, with net inflows of just $6bn. The AMP Capital division has posted net outflows of $1.1bn for the period, while its assets under management fell 0.4 per cent to $189.2bn. Meanwhile, AMP Bank’s deposits increased by $52m to $17bn during the quarter, but its loan book fell $303m to $20.6bn.

CORPORATES
AMP LIMITED – ASX AMP, AMP CAPITAL INVESTORS LIMITED, AMP BANK LIMITED

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