AMP Limited has reported continued momentum in its platforms and advice business, with net cash flows climbing 63.2 per cent in the second quarter of 2025 to $1.57 billion, up from $959 million in the same period last year.
The company’s flagship platforms offering reached $83.2 billion in assets under management (AUM), a 5.6 per cent increase from the first quarter, underpinned by strong flows and favourable investment market conditions.
Managed portfolios now account for $21.8 billion in AUM, while AUM for the MyNorth Lifetime retirement solution grew to $465 million.
“Our platforms business has delivered another standout performance,” Alexis George, chief executive of AMP, said.
“This reflects the strength of our platform proposition for advisers and their clients, supported by ongoing innovation – including our AI File Note tool and Lifetime retirement solutions.”
New Zealand Wealth Management also contributed to the advice-led growth story, with net cash flows increasing to $40 million from $11 million in the prior corresponding period.
AUM in the region reached $12.2 billion, supported by inflows into the New Zealand Retirement Trust and the recent launch of a Term Deposit product.
In superannuation and investments, AMP recorded its first positive quarterly net cash flows since 2017. The segment delivered $33 million in net cash flows for the quarter, reversing a $99 million outflow in the same quarter last year. Total AUM rose to $58.5 billion from $55.8 billion in the first quarter.
George said the turnaround reflected the company’s commitment to member retention and value.
“We’ve reached a significant milestone, delivering positive net cash flows for the quarter, for the first time since 2017,” she added. “This reflects our continued efforts to build a compelling member proposition which is delivering outstanding investment returns, service and education.”
Initiatives driving this growth include the rollout of AMP Lifetime Super to approximately 140,000 Choice members and the introduction of digital advice tools to strengthen engagement and retention.
For mortgages, AMP Bank reported a total loan book of $23.5 billion, a slight increase from $23.3 billion in the first quarter. Deposits declined modestly to $20.5 billion from $20.7 billion, consistent with AMP’s strategy to manage volumes and preserve margins. Credit quality remained strong, with 90+ day arrears holding at 0.88 per cent.
The bank’s new digital platform, AMP Bank GO, received encouraging early feedback, according to the company. Features such as a small business overdraft have been launched, with savings accounts and term deposits set to follow in the second half of the year.
“Against the backdrop of this positive momentum, investment markets remain volatile, and we continue to see sustained competitive pressure, as well as accelerating pace of change, driven by AI,” George said.
“In this environment, we remain focused on the ongoing execution of our strategy.”
