Views Article – Sharenet Wealth

Australasia, News

AMP’s Australia wealth business’ assets under management rise by $1.2 bln

April 22 (Reuters) – AMP Ltd said on Thursday assets under management at its Australian wealth management business increased by A$1.6 billion ($1.24 billion) in the first quarter on better market conditions and lower outflows from pension fund mandates.

Assets under management at the unit jumped to A$125.7 billion in the three months ending March from A$124.1 billion at the end of December. ($1 = 1.2905 Australian dollars) (Reporting by Sameer Manekar in Bengaluru; Editing by Ramakrishnan M.)

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.