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Diversified wealth manager AMP Ltd, holds a commanding position and is well placed to benefit from the continual rise of superannuation in Australia. The takeover of AXA Asia Pacific increased the distribution and reaches of AMP’s products and increased Assets under Management (AUM) which now stand at $136 billion. It is this AUM balance, along with a significant client base looking for wealth management – including superannuation advice – that positions AMP to benefit from any further improvement in the outlook for equities and in investor appetite for equity products.

A final pick is financial group AMP Limited (ASX: AMP). AMP holds a strong brand on both sides of the Tasman offering financial services and life insurance. The company pays a worthy dividend yielding 4.7% and will produce strong cash flows over the coming years benefiting from the strong sales network and recent addition of AXA Asia Pacific.

The decline has coincided with the growth of superannuation, with much of it held by managed and corporate super funds, consolidation of industries, such as the takeovers of Coles and AXA, and moves by companies to buyback unmarketable parcels of shares.