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AMP NZ suffers outflow but is attracting new money

Staff reporters
Thu, 21 Oct 2021

AMP Wealth Management in New Zealand continues to bleed funds outflows but it is also attracting sizeable cash inflows, despite continuing to languish in investment performance tables.The fund manager suffered net cash outflows of A$39 million in the September quarter, up from A$13m in the same quarter last year, but that was after a 17% increase in cash inflows to A$362m.It blamed the continued outflow on its status as one of the government's default KiwiSaver providers not being renewed.AMP's NZ arm still has A$6.4 billion in KiwiSave...

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