AMP's corporate superannuation division has turned in a solid first half result for the company.
According to the company's first half results announced on the Australian Securities Exchange (ASX) today, net cashflows to AMP SignatureSuper and AMP Flexible Super increased 21 per cent over the prior corresponding period.
The ASX announcement showed that cashflows for the period amounted to $432 million and attributed the outcome to large mandate wins within Signature Super accounting for $84 million of the cashflows.
However the ASX announcement also pointed to the company's other corporate super offerings, CustomSuper, SuperLeader, and BusinessSuper experiencing net outflows of $292 million which it said was due to higher outflows to internal products.
Australia’s second-largest super fund has explained its approach to the Asian giant and how it is balancing underlying risk, adding that avoiding China altogether may not be a “doable strategy”.
New research indicates that industry superannuation funds are poised for significant growth, posing a challenge to traditional active managers.
Challenger reported growth of 190 per cent in lifetime annuity sales, having realised an “extraordinary” opportunity in retirement.
The ethical asset manager has launched an infrastructure debt fund in association with specialist manager Infradebt.
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