10 months ago

Australia Edition 3

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THE MARKET With a total

THE MARKET With a total of around 0 billion in funds under management in Australia and New Zealand, and with growth of around ten to twelve per cent per ammm, the fmancial services market is both very large and vital for the economy. It is impmtant to the individuals whose savings and other assets are managed and protected by fund managers and whose lives, propetty and businesses are covered by insurers. It is also impmtant to the nation as a whole because one of its critical tasks is the efficient management of an enmmous quantity of investment capital. ACHIEVEMENTS Today, AMP is a leading international financial services company. It provides wealth management products and advice to more than 8 million customers worldwide, including one in five Australian adults, one in six New Zealand adults and one in ten adults in the United Kingdom. AMP has 17,000 employees and platmers around the world who help these customers through a range of convenient channels. A growing international network of fmancial plam1ers, which includes the largest and most productive planner force in Australasia, sets AMP apatt from its competitors. Customers can access advice and services 24 hours a day, 7 days a week through direct channels like AMP's web sites and call centre operations. In addition to a clear and sustained emphasis on improving financial petformance, AMP also has a clear focus on the broader principles of corporate social responsibility. This focus encompasses not just economic measures but the environment, employment and wider conununity interests. AMP was an Australian and New Zealand leader in introducing family friendly employment policies as patt of a wider "employer of choice" initiative, and is now widely recognised for these policies. The AMP Foundation, which was formed in 1992 in Australia, has donated more than A million to its partner charities including the Leukaemia Foundation of Australia, the National Breast Cancer Centre and local initiatives. AMP runs similar initiatives in New Zealand and in the UK. HISTORY AMP - the Australian Mutual Provident Societywas fow1ded in Sydney, Australia in 1849, around 153 years ago. It quickly expanded into New Zealand at1d the United Kingdom, where it has now operated for almost 150 years. Today, AMP operates in 16 markets, with leading positions in its three "home" markets of Australia, New Zealand and the United Kingdom. In Australia and New Zealand, AMP played a vital role in the rapid development of the economy by directing the savings and life insurance premiwns of policyholders into investments which provided the capital needed for economic growth. Between1918 and 1939, AMP made widespread investment in primary industries. During the Great Depression, the Society extended the tenns of rw-al loans and made other an-at1gements which allowed many farmers to stay on their properties. In 1941, AMP seemed an amendment to its Act of Incorporation which allowed a widening of its investment powers, allowing it to invest in all types of public companies. In its Centenary yeat·, as a way of celebrating its first 100 years in business by helping to develop Australia, AMP provided funding and logistic W hat was your money doing while we were earning the MnRNINGSIM Multisector Fund Manager of the Year? _ ..____ ,____ ~ YES . .... ---- ---..---·· . -- .__ ..----­ -....---~ ........ ..,.... __ _ -..--- __....,_ ·-----I'X9 ---....-.._ __ ..... __ ..._... _..., ___ __ ·-· ..,. - __ ..-.. ,.,.-.- 0 18

The need for good financial advice is growing worldwide, and AMP has proven expettise in financial plmming. Its 4000 planners around the world provide a critical market advantage, given the increasing complexity of financial mat·kets and the widening range of savings options. As the bulk of the baby boomer generation reaches retirement age over the next 10 to 20 years, the western world will experience the largest retirement boom in history. AMP is well placed to suppmt to the South Australian Land Development Scheme. This provided jobs and land for returned lead in the markets that will service this growth in Australia, New Zealand and the UK. soldiers, and in the process turned barren maiJee country into rich and productive farmland which is RECENT DEVELOPMENTS still worked today. AMP has been an international company for most Although AMP was the largest mutual of its history, but dw-ing the past few years it has insurance company in the British Empire in 1908, it firmly focused on increasing international only began its rapid expansion in the UK in 1989. expansion. The company has grown t]u·ough a In that year, AMP acquired London Life and series of strategic mergers and acquisitions, then the Pearl Assurance in what was then the partnerships, joint ventures and alliances. Outside largest takeover of a British institution by a foreign- Australia, New Zealand and the UK it also has a owned one. r------------~ presence in countries like Italy, AMP has since acquired Hong Kong, Japan, India and Henderson pic, the National Canada. Provident Institution (NPI), a large The company is now entering independent financial adviser a new era in its development, organisation called Towry Law, broadening its business mix and an on-line financial service while expanding rapidly called Interactive Investor overseas.Itisseekingnewmarlnternational (iii). It has a joint kets and sources of capital and venture operation with Virgin, it is encountering new calledVirginMoney, andalliances stakeholders with widely with other British, European and differing agendas and Asian organisations. perceptions. AMP is, in essence, In 1998, AMP demutualised in a period oftransfonnation from and listed on the Australian and an Australian-based insurance New Zealand stock exchanges. When it listed, and superammation provider to an international around 1.6 million Australians - some eleven per fmancial services organisation focused on wealth cent of the adult Australian population- received management. shares in the company. In the process the company has moved into new Today, AMP has a market capitalisation of A distribution methods, products and technology, as billion, and more than one million shareholders in well as areas like banking. Australia and around the world. Individual investors comprise 55 per cent of AMP's shareholder base, with institutional investors making up the other 45 per cent. THE PRODUCT AMP's core business is wealth creation and management. It offers customers choice, control and ease of access in an increasingly complex finat1cial world. Major products cover financial planning, banking and investment, with patticular strength in superannuation and retirement pensions. AMP is one of a hat1dful of financial services companies worldwide with an international, value-adding funds management operation in-house. l'rnrhnt .. - c.~c•.n ....... ·~~ • IJU'W•" ~ooe'!lll lirJ~..-tntOPN • 'A ...,-.: >:u'f · ~'"'*"' o A¢CO,r( l~ • A'IP&~I'Y,I • .t.JI'C'•:ior

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