Acquisition proves a booster for AMP SMSF

Acquisition proves a booster for AMP SMSF

AMP SMSF assets under administration rose to $19.4 billion at the end of the third quarter with the Justsuper acquisition contributing to a jump in accounts under administration.

In its third quarter results announcement to the ASX, AMP reported that assets under administration increased $478 million to $19.4 billion in the three months to 30 September.

The results also showed AMP SMSF now has 16,642 member accounts under administration, an 8.1 per cent increase from the 15,388 member accounts it had at the end of July 2015.

AMP said the jump in member account numbers follows its acquisition of Justsuper in July 2015.

Total assets under management for the company overall was $111.1 billion down three per cent from $114 billion at 30 June 2015.

AMP chief executive Craig Meller said the performance in the third quarter demonstrates “continued momentum across AMP in what was a volatile period for markets”.

“Our products and platforms performed well and the focus on Asia is delivering results,” he said.

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Acquisition proves a booster for AMP SMSF
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