AMP Limited provides 3Q 26 cashflows and business update

AMP Limited provides 3Q 26 cashflows and business update

~ Platforms net cashflows¹ increased to $1.5 billion, up 20% (3Q 25: $1.2 billion)      

~ Superannuation & Investments net cash outflows¹ of $138 million, an improvement from net cash outflows of $241 million in 3Q 25 – resulting in net cash outflows of $62 million year to date 

~ New Zealand Wealth Management net cashflows¹ of $100 million, an improvement from net cashflows of $64 million in 3Q 25     

~ Total AUM of $168 billion across the Australian and New Zealand wealth businesses    

~ Delivered $75 million of the $150 million on-market share buyback

AMP Chief Executive Blair Vernon said:

“Our focus in the third quarter has remained on driving growth in our wealth businesses. In Platforms, our growing cashflows reflect that more advisers continue to choose North. The new North Interactive Wealth Portal is helping to further support adviser efficiency, while our new AI Implement tool is currently in pilot phase.

“Our Super & Investments business third quarter result reflected the seasonality we typically experience in the second half. AMP Super was recently awarded an Epic Retirement Tick by Chant West, recognising the strength of its products, advice, services and support for members approaching and living in retirement. The launch of the new AMP Super app, earlier this month, will further improve the digital experience for members.

“Our focus in AMP Bank remains on optimising the balance sheet and reducing the capital intensity of this business.

“We are now half-way through returning $150 million to shareholders through our on-market share buyback, and we remain focused on releasing capital from AMP Bank as a priority in our capital management strategy.”  

Business unit results

Platforms

Net cashflows (excluding pension payments) were $1.5 billion for the quarter, up 20% (3Q 25: $1.2 billion). Pension payments were $651 million (3Q 25: $583 million). Platforms AUM was $93.6 billion (2Q 26: $92.7 billion).

Following the launch of the North Interactive Wealth Portal in March 2026, the new AI application implementation tool is now in pilot phase on North and expected to roll out in 4Q 26, supporting North’s drive to enable adviser efficiency.

In September 2026, AMP launched North Protect, a simpler way for advisers to bring their clients’ super, investments and insurance together.

North Managed Portfolios grew to $29.5 billion (2Q 26: $28.3 billion). AUM in AMP’s innovative retirement solution MyNorth Lifetime grew to $1.4 billion (2Q 26: $1.2 billion).

 ^{1 Excluding pension payments}

Superannuation & Investments

Superannuation & Investments net cash outflows (excluding pension payments) were $138 million (3Q 25: outflows of $241 million). The result reflected the seasonality typically experienced in AMP Super in the second half. Pension payments were $109 million (3Q 25: $102 million). AUM grew to $62.7 billion (2Q 26: $62.6 billion), reflecting positive market movements partly offset by net cash outflows and pension payments.   

During the period, AMP won a notable employer super mandate and expects to begin implementation in 1Q 27. This is an important signal of AMP Super’s compelling offer in employer super, including its member service, retirement proposition and investment returns.

*3Q 23 excludes a specific $4.3bn mandate loss

New Zealand Wealth Management

Net cashflows (excluding pension payments) were $100 million (3Q 25: $64 million). In New Zealand dollars, KiwiSaver saw increased inflows in line with the higher (voluntary) contribution rate of 3.5% effective 1 April 2026, and inflows into AMP Managed Funds also improved. Pension payments[1]were $46 million (3Q 25: $39 million).AUM was $12.1 billion (2Q 26: $12.3 billion), impacted by FX headwinds.

AMP Bank

Our focus in AMP Bank remains on optimising the balance sheet and improving capital efficiency. The total mortgage book was $23.2 billion (2Q 26: $23.6 billion). Total deposits were $17.6 billion (2Q 26: $17.8 billion), while AMP Bank GO deposits remained steady at $1.7 billion (2Q 26: $1.7 billion).

AMP continues to improve capital efficiency within AMP Bank and reduce the capital intensity of the business. We are now halfway through the $150 million on-market share buyback and continue to progress targeted capital relief transactions, subject to market conditions, during 4Q 26.