AMP focuses on self-managed super

Reported by AAP
Wednesday, June 27, 2012
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AMP is setting up a self-managed superannuation business to capitalise on the growing sector.

AMP plans to establish a business called AMP SMSF (self-managed superannuation fund) in July, once it acquires private self-managed super administrator Cavendish.

The new business will also comprise AMP's current self-managed super operations.

Self-managed super was the largest growing superannuation sector in Australia, and was expected to grow to a value of more than $2.2 trillion by 2030, AMP said in a statement on Wednesday.

Chief executive Craig Dunn said AMP wanted to take a leading role in the market and could do so by drawing upon its existing financial services businesses.

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19/05/2013 22:24Sydney, Australia. 19 May,2013
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