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AMP reinvigorating its adviser proposition
Friday 20th of February 2009
By contrast, its Australian parent’s net profit fell 41% to A$580 million ($727.3 million) although it said underlying profit of A$810 million was down only 8% on the previous year.
The New Zealand company says its greater than expected KiwiSaver inflows helped boost net cash flows which were up 74% at $150.2m. AMP says its KiwiSaver market share rose from 11.4% to 15.2% from 11.4%.
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