AMP Limited provides 2Q 25 cashflows
– Platforms netcashflows1 increased 63.2% to $1,565 million (2Q 24: $959 million)
– Platforms Assets Under Management (AUM) increased 5.6% to $83.2 billion (1Q 25: $78.8 billion), primarily reflecting investment market movements
– Superannuation & Investments reached positive net cashflows1 for the quarter of $33 million, the first time since 2Q 17 (2Q 24: net cash outflows of $99 million)
– Superannuation & Investments AUM was $58.5 billion (1Q 25: $55.8 billion),
driven by investment markets and resilient inflows
– New Zealand Wealth Management net cashflows1 were $40 million (2Q 24: $11 million), and AUM was $12.2 billion (1Q 25: $11.6 billion)
– AMP Bank total loan book was managed for value at $23.5 billion (1Q 25: $23.3 billion)
– AMP Bank total deposits of $20.5 billion, from $20.7 billion in 1Q
25 in line with the steady loan book
AMP Chief Executive Alexis George said:
“Our Platforms business has delivered another standout performance, with net cashflows up over 60% and AUM exceeding $83 billion. This reflects the strength of our platform proposition for advisers and their clients, supported by ongoing innovation – including our AI File Note tool and Lifetime retirement solutions. Our Managed Portfolio offer continues to grow rapidly, with AUM now at $21.8 billion.
“In our Superannuation business we’ve reached a significant milestone, delivering positive net cashflows for the quarter, for the first time since 2017. This reflects our continued efforts to build a compelling member proposition which is delivering outstanding investment returns, service and education. We will continue our focus on member retention, to drive towards a sustainable positive cashflow position. This includes renewed investment to uplift our digital engagement, rolling out our digital advice offering, and the recent launch of AMP Lifetime Super to our members.
“In AMP Bank, we continue to prudently manage volumes to preserve margins. Early feedback on our new digital bank, AMP Bank GO, has been positive, and we have rolled out new features including a small business overdraft product, with savings accounts and term deposits to come in the second half.
“Against the backdrop of this positive momentum, investment markets remain volatile, and we continue to see sustained competitive pressure, as well as accelerating pace of change, driven by AI. In this environment, we remain focused on the ongoing execution of our strategy.”
Investor session
AMP will hold an investor session, focused on its Platforms and Superannuation & Investments businesses, this afternoon at 2.00pm – 4.00pm. The webcast can be viewed here: AMP Investor Session 2025.
Business unit results
Platforms
Net cashflows (excluding pension payments) were $1,565 million for the quarter, up 63.2% (2Q 24: $959 million). Pension payments were $796 million (2Q 24: $677 million).
Managed Accounts reached $21.8 billion, and AUM in MyNorth Lifetime, North’s innovative retirement solution, continued to grow to $465 million.
The 5.6% increase in Platforms AUM since 1Q 25 was supported by market movements and strong flows, rising to $83.2 billion (1Q 25: $78.8 billion).
Superannuation & Investments
Superannuation & Investments delivered positive net cashflows (excluding pension payments) of $33 million, compared to net cash outflows of $99 million in 2Q 24. This reflects the impact of ongoing retention initiatives, including the launch of digital advice and the recent rollout of AMP Lifetime
Super to ~140,000 Choice members. Pension payments for the quarter were $123 million (2Q 24: $116 million).
AUM was $58.5 billion (1Q 25: $55.8 billion), reflecting positive
cashflows and market movements.
New Zealand Wealth Management
Net cashflows were $40 million (2Q 24: $11 million), driven by improved inflows in the New Zealand Retirement Trust, AMP’s employer-sponsored workplace savings scheme, as well as inflows from the new Term Deposit product that was launched in June 2024.
Pension payments[1]were $41 million (2Q 24: $42 million). AUM was $12.2 billion (1Q 25: $11.6 billion), partly supported bymarket movements.
AMP Bank
AMP Bank’s total loan book was $23.5 billion, as AMP continues to carefully manage volumes to prioritise margins in the current environment. Total deposits were $20.5 billion (1Q 25: $20.7 billion), broadly in line with the stable loan growth. Credit quality remains strong, with 90+ days arrears remaining low at 0.88%. The new digital bank, AMP Bank GO, is showing early positive signs, and further details will be provided at AMP’s 1H 25 results on 7 August 2025.
[1] 1 Excluding pension payments