AMP's NZ unit lifts annual profit by 7.5% on Kiwisaver inflows, increased insurance returns

Wed, 17 Feb 2016

By Sophie Boot Feb. 18 (BusinessDesk) - AMP Financial Services New Zealand, the local operation of the Australian fund manager and insurer, said inflows of Kiwisaver funds and improved returns from insurance lifted profit in calendar 2015. Annual operating earnings rose 7.5 percent to $129.2 million, the Auckland-based company said in a statement. Cash flow rose 63 percent to $477 million, with Kiwisaver assets under management increasing 13 percent to $3.9 billion, a significant chunk of the $14.8 billion in total assets managed by the c...

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