trending Market Intelligence /marketintelligence/en/news-insights/trending/-tefYEiSaO3TYDK5NKmuBw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Australia's AMP posts YOY rise in Q3 outflows

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


Australia's AMP posts YOY rise in Q3 outflows

AMP Ltd. posted a year-over-year rise in outflows in its Australian wealth management unit as the company continues to deal with the fallout from revelations of misconduct during the royal commission inquiry into the financial sector.

The company on Oct. 24 reported net cash outflows of A$1.94 billion in its Australian wealth management unit for the third quarter ended Sept. 30, up 30% from its net cash outflows of A$1.49 billion in the prior-year period.

AMP CEO Francesco De Ferrari said the company achieved stronger inflows during the quarter, but those were offset by higher outflows as the new Protecting Your Super legislation was implemented on July 1. The legislation aims to protect Australians' super savings from unnecessary erosion by fees and insurance costs.

The company said there had not been material outflows from the loss of corporate super mandates during the third quarter, but it expects corporate super outflows of approximately A$1.4 billion in the next 12 months.

In the three months ended Sept. 30, total assets under management in the company's Australian wealth management business rose to A$133.18 billion from A$132.70 billion as of June 30.

Banking unit AMP Bank Ltd. reported total loans of A$20.30 billion, up from A$20.20 billion in the second quarter, which AMP attributed to ongoing growth from the mortgage broker channel and subdued market conditions. The bank's deposits increased to A$14.5 billion from A$13.87 billion in the previous quarter.