Anyone who claims they know more than below is FOS. I see this story as an improving one that will deliver significant value uplift when positive cashflows are reported in FY23.Australian Wealth Management
- Australian Wealth Management AUM decreased A$5.8 billion to A$136.5 billion during Q1 22, reflecting lower investment markets and net cash outflows.
- Net cash outflows of A$1.3 billion at Q1 22 improved from A$2.0 billion net cash outflows in Q1 21.
- North EFA inflows of A$342 million, up 53 per cent on Q1 21.
- While underlying cashflow trends continue to improve, the conclusion of AMP’s mandate as Woolworths’ corporate super provider is expected in 1H 23, and will generate an additional one-off impact of approximately A$4 billion in cash outflows. The exit of the mandate is not expected to have a material impact on profitability.
AMP Advice and Wealth, page-263
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