Morningstar | Breakdown of Life Business Sale Adds to AMP’s Structural Headwinds, FVE Reduced
Despite AMP's strong market positions in a long-term growth industry, large distribution network, offshore growth options, the very damaging Royal Commission revelations have been an unprecedented disaster. AMP’s heritage brand has been trashed, and its long-term strategy is now uncertain. A wide range of remedial actions have been announced and have been or will be implemented as soon as practicable. Execution is always key, and so far we think the jury is out on whether new management can deliver. AMP's asset-management business is expanding across fast-growing Asian markets, and AMP Bank is recording strong earnings growth. However, AMP's competitive advantages of its distributional reach and brand recognition have been materially weakened following the Royal Commission.AMP is a wealth management company in Australia and New Zealand, with an international investment management business and a retail banking business in Australia. Co. provides retail customers in Australia and New Zealand with financial advice, superannuation, retirement income and investment products. Co. also provides superannuation services for businesses, administration, banking and investment services for self-managed superannuation funds, income protection, disability and life insurance, and selected banking products. As of Dec 31 2015, Co. had total assets under management of A$226.00 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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