Business
AMP Capital sees $2.1 billion outflows as scandal continues to bite – Sydney Morning Herald
Super funds and institutional clients are abandoning AMP Capital after the botched sexual harassment case continues to hurt the company’s reputation.
“At a board level, they need a complete refresh,” Ms Liu said, though conceding “it’s a really tricky position. Who within the business will be able to guarantee or present a plan to the investors of how they might come back from here?”
Redemptions by super funds and other institutional clients saw AMP Capital’s assets shrink to $189.8 billion in the three months to June 30. The company’s wealth management arm saw total assets increase by 2 per cent to $122.1 billion, but outflows persisted due…
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