POWERED BY MOMENTUM MEDIA
AMP Capital reports strong results
AMP Capital has reported strong growth in the first half of 2012, with an increase in both profit and assets under management (AUM) from the challenging second half of 2011.
The firm's underlying operating profit after income tax for the first half of 2012 was $48 million - an increase of $7 million on the prior six-month period.
Furthermore, AMP Capital grew its AUM by around $300 million to $123.3 billion, which the company said was mostly due to positive investment returns, but was largely offset by negative net cashflows.
Its AUM includes $4 billion of AXA's assets managed by Alliance Bernstein and another $6.7 billion which transitioned to AMP Capital over the past 12 months.
"It is expected that during the second half of 2012 asset management for a further $2 billion of AUM will transition to AMP Capital," the company stated in an announcement released to the Australian Stock Exchange. "The transfer of investment management services to AMP Capital will continue to reduce external investment manager costs."
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The Australian Retirement Trust is adopting a “healthy level of conservatism” towards the US as the end of the 90-day tariff pause approaches, with “anything possible”.
Uncertainty around tariffs and subdued growth may lead to some short-term constraints in relation to the private credit market, the fund manager has said.
Just three active asset managers are expected to attract net inflows over the coming year, according to Morningstar, with those specialising in fixed income or private markets best positioned to benefit.
Taking a purely passive investment approach is leaving many investors at risk of heightened valuation risks, Allan Gray and Orbis Investments have cautioned.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
