AMP Limited
(ASX:AMP) says cash flows for its financial services arm and group assets under management have improved significantly in the first quarter.
Net cash flows for financial services were $95 million, a turnaround of $387 million on the same period a year ago.
AMP says the jump was a result of strong performance by its retail business on AMP platforms.
Meatime, AMP’s total Australian wealth management assets under management for the first quarter came in at $89.9 billion, up almost 5 per cent on the previous quarter.
AMP generated a net profit of $687 million for its 2012 financial year.
