AMP's NZ unit lifts FY profit 4.6% on KiwiSaver growth

Wed, 18 Feb 2015

By Suze Metherell Feb. 19 (BusinessDesk) - AMP Financial Services New Zealand, the local operation of the Australian fund manager and insurer, lifted annual operating earnings as growth in its KiwiSaver funds helped cash flow to more than treble. Annual operating earnings rose 4.6 percent to $120.2 million in the year ended Dec. 31, the Auckland-based company said in a statement. Cash flow jumped 212 percent to $293.4 million, which the company credited to more advisers transferring their clients' KiwiSaver accounts to AMP's financial ser...

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