I have a reasonable idea how AMP makes money but have no company specific knowledge in this case.
Trouble is fund managers lack the understanding and see this years 900m loss as remarkable... not really. When the markets eventually recover the profits will return to AMP and shareholders. As long as AMP can raise capital in the short term to support the capital intensive business to avoid insolvency then they should be okay.
Most of the new business written these days are not these "guarenteed" products and they rather pass the risk to the consumer i.e. unit linked type products. AMP will still be effected for a number of reasons but to a different degree.
All they need to do is sort out this mess in the UK.
Note that the FTSE is rising...
Cheers,
Munch.
danger amp in decline, page-27
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$1.10 |
Change
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Mkt cap ! $2.873B | |||
| Open | High | Low | Value | Volume |
| $1.11 | $1.12 | $1.09 | $10.08M | 9.145M |
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| No. | Vol. | Price($) |
|---|---|---|
| 11 | 361347 | $1.10 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.10 | 99874 | 6 |
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