The AMP Ltd (ASX: AMP) share price is in the spotlight today, with first quarter 2026 results showing 45% growth in Platforms net cashflows to $1.1 billion and improved Superannuation & Investments (S&I) net cash outflows down to $80 million, a 26% year-on-year improvement.
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What did AMP report?
- Platforms net cashflows increased 45% to $1.1 billion (1Q25: $740 million)
- Superannuation & Investments net cash outflows improved 26% to $80 million (1Q25: $108 million)
- New Zealand Wealth Management net cashflows were $41 million (1Q25: $57 million)
- China Life Pension Company AUM up 17% to ~RMB 2.4 trillion (~A$515 billion)
- AMP Bank GO deposits rose to $942 million, up $632 million from 4Q25
- Total AUM across wealth businesses at $155.9 billion; AMP Bank loan book steady at $24.1 billion
What else do investors need to know?
AMP has launched a $150 million on-market share buyback, aiming to return surplus capital to shareholders. The release of the North Interactive Wealth Portal is one of several enhancements to AMP's Platforms, delivering new features for advisers that have contributed to positive cashflow momentum.
In the superannuation space, AMP expanded its employer offer for small and medium businesses, in partnership with leading payroll providers, to enhance member retention and acquisition. In New Zealand, cashflows reflected market uncertainty, but the company is targeting opportunities in the retirement segment.
What did AMP management say?
AMP Chief Executive Blair Vernon said:
Accelerating organic growth in our wealth businesses is one of my top priorities. The continued improvement in cashflows across Platforms and Superannuation & Investments demonstrates the momentum that we have… I'm pleased that our $150 million share buyback is now commencing, demonstrating our commitment to returning surplus capital to our shareholders.
What's next for AMP?
Looking ahead, AMP expects AMP Bank GO deposits to surpass $1.5 billion for the full year 2026 while maintaining its existing market guidance elsewhere, subject to broader market conditions. The company is focused on deepening adviser relationships, improving operational leverage in its platforms, and exploring capital relief strategies for the bank to enhance returns.
AMP is also planning to build on its position in China and leverage retirement expertise in New Zealand, responding to ongoing sector tailwinds despite recent market headwinds and shifts in client sentiment.
AMP share price snapshot
Over the past 12 months, AMP shares have risen 26%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 16% over the same period.
