Superannuation and retirement incomes have been revealed as sitting front and centre of AMP Limited’s strategy, following its announcement today of a much-improved full-year profit of $848 million.
Outlining its strategy and prospects, the big financial group said a key priority would be growing in the $3.3 trillion Australian wealth management market, where AMP holds the number one market share position in superannuation, advice and self-managed superannuation funds (SMSF) and the number two position with respect to retirement incomes.
The company said it was targeting additional revenue equivalent to two per cent of assets under management (AUM) fees from its advice and SMSF businesses.
The company said it was also looking to expand internationally, primarily through AMP Capital in high growth regions where its expertise and capabilities are in demand.
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Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
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A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.