In a quarterly update, the firm said platform net cash flows in the second quarter of 2025 calendar year were $1.5 billion. This is up 63 per cent from the prior corresponding period when they stood at $959 million.
Platform assets under management (AUM) were $83.2 billion, while superannuation and investment division AUM was $58.5 billion – both of these were driven by positive investment markets.
The $83.2 billion platform AUM was up from $74.6 billion in Q2 2024, and some $81.7 billion sits on the North platform and $1.4 billion resides on Asgard. Breaking it down by asset class, 34 per cent is in international equity, 31 per cent is in Australian equity, and 30 per cent is in cash and fixed income.
The superannuation and investment division returned to inflows with net cash flows of $33 million compared to outflows of $99 million in the prior corresponding period. This was the first quarter of positive inflows in this division since 2017; AMP highlighted this reflected the impact of ongoing retention initiatives, such as the launch of its digital advice offering.
Managed accounts reached $21.8 billion and AUM in its North MyLifetime retirement solution stood at $465 million. The North platform has 4,211 active advice relationships and 232,000 clients.
AMP chief executive, Alexis George, said: “Our platforms business has delivered another standout performance, with net cash flow up over 60 per cent and AUM exceeding $83 billion. 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.
“Our managed portfolio offering continues to grow rapidly with AUM now at $21.8 billion.
“In our superannuation business we’ve reached a significant milestone, delivering positive net cash flows for the quarter, for the first time since 2017. This reflects our continued efforts to build a compelling member proposition which is delivering outstanding investment returns, service and education. We will continue our focus on member retention to drive towards a sustainable positive cash flow position. This includes renewed investment to uplift our digital engagement, rolling out our digital advice offering, and the recent launch of AMP Lifetime Super to our members.”
