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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.

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Jarden Brief: Why NZX ended the day in the red

Jarden Brief: Why NZX ended the day in the red 21 Apr, 2021 08:26 PM 7 minutes to read Wednesday was a tough day for large-cap stocks on the NZX. Photo / File NZ Herald New Zealand The NZX50 was in the red again yesterday with a 1.1 per cent decline. It was a particularly bad trading day for large cap stocks, with the NZX10 falling 1.5 per cent. The fall in the NZX50 was led by the consumer non-cyclicals and financials sectors, down 3.1 and 2.3 per cent, respectively. The only sector to rise was energy, up 1.0 per cent. Logistics software company, Eroad, was the top performing stock yesterday after investors digested a mixed third quarter report which was released on Monday. Eroad reported some progress in making deals with large enterprises in the US – while sales for its new dashcam product seemed to be tracking well.

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AMP Capital ends management agreement with NZ REIT

AMP Capital ends management agreement with NZ REIT
moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.

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Precinct Properties to move REIT management rights in-house

Precinct Properties to move REIT management rights in-house
ipe.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ipe.com Daily Mail and Mail on Sunday newspapers.

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