Superannuation and retirement incomes have been revealed as sitting front and centre of AMP Limited’s strategy, following its announcement today of a much-improved full-year profit of $848 million.
Outlining its strategy and prospects, the big financial group said a key priority would be growing in the $3.3 trillion Australian wealth management market, where AMP holds the number one market share position in superannuation, advice and self-managed superannuation funds (SMSF) and the number two position with respect to retirement incomes.
The company said it was targeting additional revenue equivalent to two per cent of assets under management (AUM) fees from its advice and SMSF businesses.
The company said it was also looking to expand internationally, primarily through AMP Capital in high growth regions where its expertise and capabilities are in demand.
A “concerning” number of Aussies don’t know what they pay in super fees, a young super fund has said.
The corporate regulator has shared some ‘disappointing’ findings upon reviewing the public communications of more than 20 trustees with regards to death benefits.
According to the industry body, funds should have an obligation to transfer members in failing products to better-performing products in a timely way.
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets.
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