AMP coy on inorganic acquisitions
AMP has sent a clear message that while it remains interested in acquiring AXA Asia Pacific, the transaction is not an imperative part of its strategy.
In an investor briefing released to the Australian Securities Exchange (ASX) today, the company did not specifically name AXA Asia Pacific but referred to the current environment having created significant “organic opportunities” to drive growth.
It then added that “the current environment could also provide attractive inorganic opportunities” before saying this was not a “must do”.
The company said that any inorganic opportunities had to fulfil clear criteria in being “strategic”, “economic” and “within risk appetite”.
During the investor briefing, AMP said AMP Financial Planning represented the largest dealer group in the market with above average growth rate of 5.6 per cent for the 12 months to March this year.
AUTHOR
Mike Taylor
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