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AMP corporate super in good shape
AMP's corporate superannuation division has turned in a solid first half result for the company.
According to the company's first half results announced on the Australian Securities Exchange (ASX) today, net cashflows to AMP SignatureSuper and AMP Flexible Super increased 21 per cent over the prior corresponding period.
The ASX announcement showed that cashflows for the period amounted to $432 million and attributed the outcome to large mandate wins within Signature Super accounting for $84 million of the cashflows.
However the ASX announcement also pointed to the company's other corporate super offerings, CustomSuper, SuperLeader, and BusinessSuper experiencing net outflows of $292 million which it said was due to higher outflows to internal products.
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