AMP Limited (ASX:AMP) has increased third quarter net cashflows for its financial services division to $605 million, an 80 per cent increase from the corresponding period last year.
The surge in cashflow is attributed to an increase in self managed super funds, which saw a $40 million dollar increase from the third quarter of 2011.
AMP Financial Services growth initiatives continued to deliver positive results throughout the quarter.
The fund manager says growth in its core contemporary platforms continued to be positive, highlighted by its North arm and new unit SMSF.
AMP generated a net profit of $364 million in the first half of its 2012 financial year.
