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Highlights

  • AMP share price holds steady at AU$1.11 despite initial gains
  • First-quarter business update highlights strong platform net cashflows and steady loan book
  • CEO emphasises focus on adviser growth and platform improvements

AMP Ltd (ASX: AMP) shares have been showing little movement today, trading at AU$1.11, the same level as yesterday's close. After a brief rise of more than 1% in early trading, the stock has reverted to its previous value. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has increased by 0.3%, but AMP's performance remains relatively unchanged.

The company's share price has drawn attention following the release of its first-quarter business update for 2025. AMP reported a 268% increase in net cashflows for its platforms (excluding pension payments), reaching AU$740 million for the quarter. Pension payments, which amounted to AU$507 million, saw a modest rise of 1.4%.

However, AMP also reported a slight decline in its platforms' Assets Under Management (AUM), which fell by 1.2% year on year to AUA$78.8 billion. This decrease was primarily attributed to investment market fluctuations. The company has also noted improvements in its Superannuation & Investments division, with net cash outflows reducing significantly to $108 million from $371 million in the same period last year.

Despite these positive indicators, the AMP share price has not shown any substantial growth today. In other financial highlights, AMP's Superannuation & Investments AUM of AU$55.8 billion declined by 1.1% compared to the previous quarter. Conversely, the company saw a strong performance in New Zealand Wealth Management, with net cashflows rising 128% year on year to AU$57 million and AUM increasing by AU$200 million.

CEO Alexis George pointed to the continued positive momentum in the company's platform business, emphasizing its focus on adviser growth and improvements to the North platform. Despite volatility in investment markets, George reassured investors that the company remains focused on delivering results for its customers. Additionally, AMP's loan book remained steady at AU$23.3 billion, with deposits rising to AU$20.7 billion.