AMP Ltd
(ASX:AMP) says its third-quarter cashflows have fallen 53 per cent to $48 million, down from $103 million reported for the same time last year.
The decline is attributed to higher cash inflows being offset by higher cash outflows.
AMP says this situation is in line with trends being seen across the industry, due to improved investment markets which increased member withdrawals.
Net cashflows for retail investments recorded the largest decline dropping from $23 million to just $7 million.
AMP reported a profit of $412 million in the first six months of 2010.
