AMP Limited reports a 3.6% rise in total assets under management, driven by a 61.6% jump in Platforms net cashflows and steady growth across divisions, alongside significant legal settlements.
- Total AUM climbs to $159.5 billion, up 3.6% from prior quarter
- Platforms net cashflows soar 61.6% to $1.2 billion
- Superannuation & Investments net outflows improve by 27.8%
- AMP Bank loan book grows moderately to $23.8 billion
- Settlement of $120 million superannuation class action pending court approval
Robust Growth in Platforms and AUM
AMP Limited’s third quarter results for 2025 reveal a steady upward trajectory in assets under management (AUM), which increased by 3.6% to $159.5 billion. This growth was largely propelled by the Platforms division, where net cashflows surged 61.6% to $1.2 billion, pushing Platforms AUM to nearly $87 billion. The North wrap platform, a key driver of this momentum, continues to gain traction with advisers, bolstered by innovations such as the market-first ‘Grow’ feature that enhances client portfolio customization.
Superannuation & Investments Show Signs of Stabilization
While the Superannuation & Investments segment still reported net cash outflows of $241 million, this marks a significant 27.8% improvement compared to the same quarter last year. The division’s AUM rose to $60.5 billion, supported by positive market conditions and member retention initiatives including AMP Lifetime Super and an innovative cashback rewards program. These efforts indicate AMP’s strategic focus on reversing outflows and moving towards sustainable net inflows.
New Zealand Wealth Management and AMP Bank Update
AMP’s New Zealand Wealth Management business maintained steady AUM at $12.2 billion despite currency headwinds from a weaker NZD against the AUD. Net cashflows were positive at $64 million, though down from the previous year. Meanwhile, AMP Bank reported moderate loan book growth to $23.8 billion and deposits increased to $20.8 billion. The bank is enhancing its digital offerings with new savings and joint accounts and launched a pioneering lender platform for mortgage brokers, aiming to streamline credit decisions and improve customer experience.
Legal Settlements Provide Financial Clarity
AMP announced a $120 million settlement of a superannuation class action, with AMP’s contribution expected to be approximately $75 million. This settlement remains subject to Federal Court approval. Additionally, AMP has secured around $68 million from settlements with insurers related to historical remediation programs, bringing closure to longstanding legal proceedings. These developments reduce regulatory uncertainty and allow AMP to focus on growth and innovation.
Looking Ahead
AMP’s third quarter results underscore a company in transition, balancing growth in key wealth management platforms with ongoing efforts to stabilize superannuation cashflows and expand banking services. The resolution of legal matters removes a significant overhang, but the path to sustained positive net cashflows in superannuation remains a critical challenge. Market watchers will be keen to see how AMP leverages its digital innovations and customer-centric initiatives to maintain momentum into 2026.
Bottom Line?
AMP’s strong platform growth and legal settlements set the stage, but superannuation cashflow recovery remains pivotal.
Questions in the middle?
- Will AMP achieve sustained positive net cashflows in its Superannuation & Investments segment soon?
- How will the new AMP Bank Lender Platform impact mortgage broker engagement and loan growth?
- What are the implications if the Federal Court delays approval of the superannuation class action settlement?