AMP’s Platforms Cashflows Surge 63% as Superannuation Turns Positive
AMP Limited reports a strong second quarter with Platforms net cashflows soaring 63.2% and Superannuation & Investments achieving positive net cashflows for the first time since 2017. AMP Bank remains steady amid ongoing innovation and market volatility.
- Platforms net cashflows jump 63.2% to $1.565 billion
- Platforms Assets Under Management rise 5.6% to $83.2 billion
- Superannuation & Investments posts first positive net cashflows since 2017
- New Zealand Wealth Management net cashflows increase to $40 million
- AMP Bank maintains stable loan book and launches digital bank AMP Bank GO
Strong Momentum in Platforms Business
AMP Limited’s second quarter results for 2025 reveal a significant surge in its Platforms business, with net cashflows increasing by 63.2% to $1.565 billion compared to the same period last year. This growth pushed Platforms’ Assets Under Management (AUM) up 5.6% to $83.2 billion, driven by a combination of strong inflows and favourable investment market movements. The company’s innovative offerings, such as the AI-powered File Note tool and the MyNorth Lifetime retirement solution, are credited with enhancing adviser and client engagement, fueling this momentum.
Superannuation & Investments Achieves a Milestone
In a notable turnaround, AMP’s Superannuation & Investments segment recorded positive net cashflows of $33 million for the quarter, marking the first time since the second quarter of 2017 that this business unit has posted inflows rather than outflows. This improvement reflects the success of retention initiatives, including the rollout of digital advice services and the AMP Lifetime Super product, which has been adopted by approximately 140,000 Choice members. The segment’s AUM also rose to $58.5 billion, supported by both market gains and steady inflows.
New Zealand Wealth Management and AMP Bank Stability
AMP’s New Zealand Wealth Management division continued its positive trajectory, with net cashflows increasing to $40 million and AUM growing to $12.2 billion. This growth was supported by inflows into the New Zealand Retirement Trust and a recently launched Term Deposit product. Meanwhile, AMP Bank maintained a carefully managed loan book of $23.5 billion and deposits of $20.5 billion, reflecting a cautious approach to volume growth aimed at preserving margins. The early reception of AMP Bank GO, the company’s new digital banking platform, has been encouraging, with plans to introduce additional features such as savings accounts and term deposits later in the year.
Navigating Volatility and Competitive Pressures
Despite these positive developments, AMP’s leadership acknowledges ongoing challenges, including volatile investment markets and intensifying competition, compounded by rapid technological change driven by artificial intelligence. CEO Alexis George emphasized the company’s commitment to executing its strategy with a focus on innovation and member engagement to sustain growth and improve financial resilience.
Bottom Line?
AMP’s strong cashflow gains and digital innovation set the stage for a pivotal half-year update in August.
Questions in the middle?
- Can AMP sustain positive net cashflows in Superannuation amid market volatility?
- How will AMP Bank GO impact AMP’s banking market share and profitability?
- What further innovations will AMP deploy to maintain its Platforms growth momentum?
