Market mayhem whacks $30b hole in AMP's funds under management

  • 📰 smh
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

AMP has suffered a $30 billion hit to assets under management across its wealth, capital and banking divisions last quarter, as the coronavirus pandemic roiled the global economy and financial markets | CharlotteGriev1

AMP has suffered a $30 billion hit to assets under management across its wealth, capital and banking divisions last quarter, as the coronavirus pandemic roiled the global economy and financial markets.

AMP Capital was looking for opportunities amid the downturn, Mr De Ferrari said, including infrastructure investment and debt. Losses in the capital arm were slightly offset by gains in their Australian dollar value, as a higher portion of these assets were exposed to foreign currency "which benefited from the depreciation", the company said.

AMP Wealth also took a beating, with total funds under management shrinking by $18.2 billion in the quarter. The federal government's early access to superannuation scheme officially opened on Monday, with over

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

CharlotteGriev1 AMP are one of the worst fund managers I've used. Rate them just above REST. That's pretty bad, because REST are absolutely terrible

CharlotteGriev1 But I bet the managers still get their fat salaries and bonus. Rort.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australia calls for independent study of wet market risks in response to COVID-19 pandemicAustralia is ratcheting up pressure on China to look into the health risks associated with wildlife wet markets. I do not believe that this current virus originated from bats as it has been alleged with evidence. Going by WHO tweet on 14/01/20, wherein WHO stated that the virus cannot be transmitted from human to human. This virus cannot be from bat. It will be correct to say that the virus is bioweapon that went wrong. It was released either by mistake or by someone with malicious intent. Bat has been in existence yet we didn't have the virus being capable of infecting humans. For heaven's sake, 'wet market' is a fabricated theory with no real evidence. Why not just start with Wuhan lab, that's known to produce nasty bioweapons, corrupt WHO and 'vaccine demon' orchestrating this abhorrent 'crimes against humanity' disguised as a PLANdemic.
Source: abcnews - 🏆 5. / 83 Read more »

Collapsing oil prices a sign global stocks will fall furtherInvestors who had bought stocks hoping the recovery in share markets had begun have been delivered a warning shot through the historic collapse in oil prices this week. In January, you geniuses were telling everyone to buy: Suckers are always welcome Of course they will fall even more if you tell everyone not to buy!
Source: newscomauHQ - 🏆 9. / 77 Read more »

Sydney a 'buyer's market' as property asking prices fall during COVID-19Economists are increasingly calling Sydney a buyer&x27;s market as key suburbs in the city suffer a fall in asking prices due to conditions created by COVID-19. Hasn't it been overpriced for years? Oh well happens when you think your in a good thing and it then returns serve It ain’t coming back
Source: 9NewsAUS - 🏆 10. / 72 Read more »