AMP NZ reports lower earnings

Thu, 13 Aug 2020

AMP Wealth Management New Zealand has reported a 16 percent fall in first-half operating earnings to $19 million and a 3 percent fall in assets under management to $12.4 billion despite positive funds inflow of $21 million as investment returns deteriorated. AMP recorded a $262 million funds outflow in the six months ended June last year. The turnaround was due to net inflow of $156 million into the company's KiwiSaver funds while $135 million flowed out of other of AMP's managed funds. The results come as its Australian paren...

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