AMP
(ASX:AMP) has reported Q3 FY2017 results in line with market expectations, with wealth management assets increasing $211 million during the quarter to $125.3 billion.
Net cash outflow of $243 million reflects high levels of discretionary super contributions brought forward into the second quarter ahead of changes to non-concessional caps in July.
Net cashflows on the AMP North platform reached $1.3 billion in the quarter, up 13 per cent from last year.
Capital net external cashflows of $616 million is driven by strong cashflows from China Life AMP Asset Management and retail assets.
AMP’s total loan book grew to $19.2 billion during the quarter.
Shares in AMP
(ASX:AMP) closed flat at $5.05.