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UPDATE 2-Outflows continue at Australian wealth manager AMP as reputation damage bites

By Reuters Staff (Adds shares) April 22 (Reuters) - AMP Ltd saw A$1.5 billion ($1.16 billion) in net outflows at its Australian wealth management business in the first quarter as the troubled financial firm continues to lose clients, sending its shares to a more than one-year low. The wealth manager did not give an update on its talks with U.S. private equity fund Ares Management, which last month expressed interest in buying all of its private market business that falls under its asset management arm, AMP Capital. That unit saw net outflows of A$2.9 billion, including A$1.3 billion largely from external clients.

AMP book grows, group sees outflows

Mortgage Business AMP book grows, group sees outflows By Malavika Santhebennur 23 April 2021 While the bank posted marginal loan book growth, the group reported net outflows in its wealth management and AMP Capital divisions. AMP Ltd has provided an assets under management (AUM) and cash flows update for the first quarter of 2021 (Q1FY21 covering January to March 2021), which showed that AMP Bank’s loan book totalled $20.8 billion, up from $20.6 billion in Q4FY20. The bank attributed the growth to an uptick in owner-occupied loans in a “highly competitive” market. According to the Australian Prudential Regulation Authority’s monthly authorised deposit-taking institution statistics, as at 28 February 2021, AMP Bank’s loan book totalled around $18.4 billion. Owner-occupied loans totalled around $13.16 billion, while i

Overtime Raises $80 Million in New Funding from Notable Investor Group, including Bezos Expeditions, Drake and 25 NBA Stars

Overtime Raises $80 Million in New Funding from Notable Investor Group, including Bezos Expeditions, Drake and 25 NBA Stars
prweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prweb.com Daily Mail and Mail on Sunday newspapers.

Embattled AMP hit by more outflows

Embattled AMP hit by more outflows
gattonstar.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gattonstar.com.au Daily Mail and Mail on Sunday newspapers.

Embattled AMP hit by more outflows

Embattled AMP hit by more outflows
byronnews.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from byronnews.com.au Daily Mail and Mail on Sunday newspapers.

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