AMP 'making the best of a bad lot'

Investment advisor Peter McIntyre says AMP’s “iconic brand” had been hurt by consistently negative news.

Fri, 23 Apr 2021

Shares in financial services giant AMP jumped 5% after it announced it would spin off its private markets business into a stand-alone operation after failing to secure a buyer.The surprising share price reaction was not investor excitement about the new entity but rather was in response to a one-line addendum at the end of the announcement.“Having concluded the portfolio review, the board will restart the share buy-back of up to A$200 million (NZ$215m),” it said.The buy-back had been announced in August last year as part of a plan t...

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