GLOBAL - Henderson Global Investors, a division of AMP, reported institutional net cash flows of A$1.7bn ($861.8m), a 15% increase on Q3, 2000.
The unit also posted a 12% rise in gross inflows for the period to A$9.6bn ($4.8bn). The figures stood despite heavily impacted retail assets which fell to A$415m.
The firm said its institutional business was bolstered by strong mandate wins in the UK and Australia.
Overall, AMP’s assets under management for Q3 2001 saw a 3% downturn to A$281bn ($142.4bn) compared to the corresponding period last year. AMP said that it still expects to deliver double digit growth for the full year 200; Henderson’s is also expected to post figures at or above last year’s core earnings.
By Janet Du Chenne
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter