Business
ASX Release - AMP Limited 1Q 26 cashflows and business update
ASX Release - AMP Limited 1Q 26 cashflows and business
About this update from Amp Limited
45% growth in Platforms net cashflows; continued improvement in S&I net cash outflows.AMP Limited provides 1Q 26 cashflows and business update 45% growth in Platforms net cashflows; continued improvement in S&I net cash outflows Platforms net cashflows1 increased to $1.1 billion, up 45% (1Q 25: $740 million) Superannuation & Investments net cash outflows1 of $80 million, an improvement of 26% (1Q 25: net cash outflows of $108 million) New Zealand Wealth Management net cashflows1 were $41 million (1Q 25: $57 million)China Life Pension Company (CLPC) AUM up 17% for FY 25 to approximately RMB 2.4trillion (~A$515 billion)2 AMP Bank GO deposits of $942 million, up $632 million on 4Q 25$150 million on-market share buyback now commencing Total AUM of $155.9 billion across the wealth businesses reflected investment market movements, while AMP Bank total loan book remained steady at $24.1 billion FY 26 AMP Bank GO deposits are now expected to exceed $1.5 billion, while all other guidance remains unchanged and is subject to market conditions AMP Chief Executive Blair Vernon said: 'Accelerating organic growth in our wealth businesses is one of my top priorities. The continued improvement in cashflows across Platforms and Superannuation & Investments demonstrates the momentum that we have. 'In Platforms, we are seeing the benefit of the new adviser relationships we have built over the past 12 to 24 months, with another strong quarter for cashflows. We have delivered another market leading feature with our new North Interactive Wealth Portal, which is already receiving positive feedback from advisers. It follows the latest NMG Adviser Study, rating North the number one Platform across a number of key categories, including Adviser proposition and Retirement. We will continue to build on this by connecting with more new advisers, and deepening our strong existing adviser relationships. 'In Superannuation & Investments, we launched a new small and medium business employer super solution, designed to support employers and their employees, making it easier to connect AMP Super directly into the HR and payroll platforms they are already using. This is another initiative to help address member retention and acquisition, supporting a continued improvement in outflows. In our New Zealand business, cashflows were reflective of the current market uncertainty,...