Australia's AMP reports $12.2b virus-led hit to AUM at investment arms

Australia's AMP reports $12.2b virus-led hit to AUM at investment arms

Sydney, Australia. Photo: Unsplash

Australia’s AMP Ltd reported on Thursday a A$19.4 billion ($12.22 billion) decline in assets under management across its wealth management business in the first quarter as the coronavirus pandemic wreaked havoc on markets.