22/08/2014
Assets at AMP Capital up 3% in first half
p { margin-bottom: 0.1in; line-height: 120%; }a:link { } The Australian asset management firm AMP Capital have posted growth of 3% in assets under management in first half 2014, according to results for the half released on 21 August by its parent company, AMP Limited. As of the end of June 2014, assets totalled AUD144.4bn (EUR100.9bn), compared with AUD140.2bn as of the end of 2013. Year on year, the growth in assets under management totals 10.3% compared with AUD131bn under management as of the end of June 2013. In the past half year, the growth in assets has largely been driven by positive market effects, the Australian group notes in a statement. In the first six months of the year, net inflows total a modest AUD44bn. This figure, however, compares with AUD3.78bn in net outflows in first half 2013. This light net inflow in first half was largely driven by a net outflow of about AUD1.6bn as part of activities internal to the group. In the period under review, AMP Capital can claim to have earned net inflows of AU1.64bn from external clients, however, compared with a net outflow of AUD2bn in first half 2013. Due to this performance in conjunction with a market effect of AUD1.7bn, assets under management for third parties total AUD43.6bn, up 8.1% compared with the end of 2013 (AUD40.3bn). As of the end of June 2014, AMP Capital had earned operating profits of AUD57m, up 11.8% year on year.
