市场见解

AMP (ASX:AMP) share price on watch after Q1 update

The AMP Ltd (ASX:AMP) share price will be one to watch on Thursday following the release of its first quarter update this morning…
The post AMP (ASX:AMP) share price on watch after Q1 update appeared first on The Motley Fool Australia. –

ASX share price on watch represented by woman investor looking at ASX financial results on laptop

The AMP Ltd (ASX: AMP) share price will be one to watch this morning.

This follows the release of the financial services company’s first quarter update.

What did AMP report?

According to the release, for the three months ended 31 March, AMP recorded a $1.6 billion increase in Australian wealth management (AWM) assets under management (AUM) to $125.7 billion.

This was driven by improved investment markets, which offset AWM net cash outflows of $1.5 billion. Though, it is worth noting that $448 million of these outflows relate to regular pension payments to clients.

The AMP Bank business recorded a $0.2 billion increase in its total loan book to $20.8 billion. This was driven by growth in owner-occupied loans.

Things weren’t quite as positive for its AMP Capital business. AMP Capital’s AUM fell 1.7% to $186.5 billion during the quarter. This reflects net cash outflows from public markets, the sale of the Global Companies capability, and its share of listed NZ REIT Precinct Properties New Zealand Limited.

AMP Capital also recorded external net cash outflows of $1.3 billion during the quarter. This was driven primarily by fixed income outflows, as well as planned divestments of assets in infrastructure equity closed-end funds. Management notes that the divestments, reflected in cash outflows, delivered strong performance outcomes for clients.

Management commentary

AMP’s Chief Executive, Francesco De Ferrari, was pleased with the quarter.

He said: “Business performance remained resilient during the first quarter as we continued to make progress on delivery of our transformation strategy to become a simpler, client-led business.”

“In Australian wealth management our cashflows are showing underlying signs of improvement, with a reduction in outflows from corporate super mandates and a reduced impact from Protecting Your Super legislation. The increase to our assets under management in our wealth management business reflects continued improvement in investment markets in Q1. We supported clients through the period with A$448 million in pension payments, which are reflected in cash outflows.”

Looking ahead, Mr De Ferrari appears optimistic on the future.

He commented: “We are accelerating change within AMP, having made strong progress on addressing our legacy issues, including our client remediation program, which is close to 90 per cent complete. We remain focused on delivering critical priorities to progress our transformation over the next quarter and continue positioning the business for future growth.”

Where next for the AMP share price?

The AMP share price is down a disappointing 25% this year. Whether this update will be enough to get it heading higher again, time will tell.

One broker that isn’t overly positive is Ord Minnett. On Wednesday, the broker put a hold rating and $1.35 price target on its shares.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post AMP (ASX:AMP) share price on watch after Q1 update appeared first on The Motley Fool Australia.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!