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AMP claims retail super leadership
AMP Limited has claimed market leadership in retail superannuation and pensions.
Announcing its half-year results to the Australian Securities Exchange (ASX) today, the company said that it based its market leadership claim on holding 20 per cent market share in the sector.
As well, the company said that it had recorded some significant corporate super wins during the half, picking up 16 new small to medium and large corporate mandates over the period.
The AMP half-year report made clear the importance of the company's corporate superannuation business, including with respect to its MySuper strategy.
It noted that it had contacted more than one million customers and 100,000 employers informing them of the company's new MySuper solutions as well as providing face-to-face training for more than 1,700 corporate superannuation advisers.
It said that approximately $13 billion of assets under management within the AMP wealth management business was classified as default business as defined by the MySuper regulations.
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