AMP to IPO in 2019

[whatsup]

Who would be interested in this as Im picking that once the AMP name is no longer part of this "new " company even though the AMP "name' now is tainted, who will direct this company.
IMO the IPO financials would have to be very compelling to partake unless the numbers were so attractive one couldn't resist, personally I cannot see this happening as Im picking that AMP would want to gut the new operation in order to try and recap its surviving Aust business.

The Funds Management is a mine field business to say the least, too many conflicts of interest here IMO .

[traineeinvestor]

I'd rather buy FBU - they've done as lot less damage to shareholders over the years than AMP has.

[trader_jackson]

I believe the unit will have operating earnings of about $40M

[Patient Panda]

You won’t see me anywhere near it

[macduffy]

It depends largely on who will be managing the "new" company and how much of the old AMP business it retains. At least it will probably be the only purely funds management company listed on the NZX.

[Snow Leopard]

AMP already listed on NZX: https://www.nzx.com/companies/AMP :confused:

[macduffy]

AMP already listed on NZX: https://www.nzx.com/companies/AMP :confused:

And will presumably remain - for the Australian side of the business.

[whatsup]

AMP already listed on NZX: https://www.nzx.com/companies/AMP :confused:

and to think that when AMP floated all those years ago it hit over $40 today it hit $2.50 !! now that's wealth destruction in a massive way !!!!

[Lego_Man]

It's a poor business to have listed, both from a market and client perspective.

The fiduciary obligations of a financial advisor will inevitably come into conflict with the imperative for the company to maximise profits for shareholders. I would be very wary of using the wealth management services of a company who i knew were beholden to maximise quarterly earnings, at the expense of my long term financial wellbeing.

[macduffy]

It's a poor business to have listed, both from a market and client perspective.

The fiduciary obligations of a financial advisor will inevitably come into conflict with the imperative for the company to maximise profits for shareholders. I would be very wary of using the wealth management services of a company who i knew were beholden to maximise quarterly earnings, at the expense of my long term financial wellbeing.

But the fortunes of a funds management company are closely linked with their performance on behalf of clients and shareholders. Poor performance results in an outflow of clients' funds - and vice versa - as fluctuations in the SP's of Australian listed funds managers has shown over recent years.

[Lego_Man]

But the fortunes of a funds management company are closely linked with their performance on behalf of clients and shareholders. Poor performance results in an outflow of clients' funds - and vice versa - as fluctuations in the SP's of Australian listed funds managers has shown over recent years.

Valid point, but a bull market masks many sins, and the effects of short term/compromised decision making may take long periods to play out.

[macduffy]

But the fortunes of a funds management company are closely linked with their performance on behalf of clients and shareholders. Poor performance results in an outflow of clients' funds - and vice versa - as fluctuations in the SP's of Australian listed funds managers has shown over recent years.

To illustrate. AMP's outflow of funds in the Sept quarter increased to $1.485billion compared to $243million in the same quarter last year.

[GTM 3442]

As an inveterate bottom-feeder, I'm just wondering if there will be anything worth having left on the bones of this old dinosaur at the end of the day.

[Sideshow Bob]

To illustrate. AMP's outflow of funds in the Sept quarter increased to $1.485billion compared to $243million in the same quarter last year.

Recent study showed that they were the worst performing fund managers for KiwiSaver - but above average fees!

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12151576


At the other end of the scale, AMP has been one of the worst performing providers. Over a 10-year horizon it generated the lowest annual returns among conservative, moderate, balanced, growth, and aggressive classes. In all but the conservative option, its fees were above average.

[Joshuatree]

I Fee Dead People

PURSUIT OF POSSIBLE MISCONDACT:

Hayne referses cases to APRA and ASIC
CBA - "Conflicted remuneration"
AMP - For outsourcing services on insurance
IIML (IOOF) - Failed best interest of members
Suncorp -- (didnt see)
FREEDOM - Unsconsciounable conduct
YOUi - Breaching duty of good faith
Allianz - 3x for Misleading deceptive conduct
NAB - CEO + Chair critices

[youngatheart]

FY results out on 13 Feb. Any ideas on what we might expect? Could this be a turn around stock?

[peat]

agree with Mogul. its not going to change quickly , so you definitely want to wait until there are more than just green shoots.

[Joshuatree]

Some of the parts
I read somewhere that AMP capital and AMP bank are still excellent profitable business but have been thrown out with the bathwater investment side of the business.Keeping a watch for later maybe.

[macduffy]

FY results out on 13 Feb. Any ideas on what we might expect? Could this be a turn around stock?

Not yet, it seems.

https://www.abc.net.au/news/2020-02-13/amp-posts-hefty-loss-but-boss-could-get-bigger-bonus/11960696?section=business

[bottomfeeder]

Nothing new that the market has not factored into the shareprice. At least its not things have gone very wrong. Next time after the end of June will signal the increasing SP.

[macduffy]

Nothing new that the market has not factored into the shareprice

Really? Shareprice is down 4.1% on the ASX at present.

[bottomfeeder]

Only because it went up 5% in the last week, on people thinking it was going to be a turnaround.

[bottomfeeder]

Pleased to be wrong about stagnation of SP. Just where will it stop?

[GTM 3442]

Only because it went up 5% in the last week, on people thinking it was going to be a turnaround.

I keep wondering if I should buy some on the chance that it'll be broken up and the parts flogged off. I have a nagging feeling that there might be some value there that I'm not seeing.

[bottomfeeder]

I am holding. There are a lot of people on Hot Copper that feel this is the beginning of the turnaround in the share price.
I believe that as there is underlying profit of half a billion nearly, that the future looks decent. However wont be greatly apparent until after 30 June. I wouldnt wait till then though, as there will be an increasing SP running up to that date.

[bottomfeeder]

Onward and upward. Where will it stop nobody knows. Looks like long term holders can't wait till 30 June, to get in.

[macduffy]

Today's Stuff article.

https://www.stuff.co.nz/business/money/119748263/over-200000-policies-caught-up-in-amp-zombie-deal

[bottomfeeder]

Sale of Life Insurance to go ahead announcement. Price Sensitive : NO. We will see how sensitive.

[Scrunch]

Big announcement for AMP, with a terrible title.

Announcement title - AMP provides update on portfolio review
https://announcements.nzx.com/detail/362281

First paragraph:
"AMP today confirms that it has received an indicative, non-binding, conditional proposal from Ares Management Corporation, a US-based company, to acquire 100 per cent of the shares in AMP Limited by way of scheme of arrangement."

[King1212]

Classic! CCl also gone...now Amp...

Good timing for private fundies to buy distress companies at current covid climate

Lucky many nzx companies are in a good shape and our covid is under control.. otherwise... many companies will be gone soon

[jorge_telosa]

Ares’ proposal is at an implied value of A$1.85 (NZ$1.96) per AMP share. AMP emphasises the preliminary nature ofthe proposal and discussions between itself and Ares, and that there is no guarantee that a transactionwill eventuate and no certainty with regards to price.