The AMP Ltd (ASX: AMP) share price has jumped 5% after the ASX financial share announced its June 2025 quarter update.
AMP is a diversified financial business with a presence across superannuation, investments and banking.
AMP’s June 2025 strong update
Let’s look at the performance of each area that AMP revealed.
Platforms
The company reported that its platforms net cashflows (excluding pension payments) increased 63.2% to $1.56 billion, up from $959 million in the second quarter of 2024.
This helped the platforms assets under management (AUM) increase 5.6% to $83.2 billion, up from $78.8 billion in the first quarter of 2025, primarily reflecting investment market movements.
Superannuation and investments
AMP also told the market that its superannuation and investments segment reached positive net cashflows for the quarter of $33 million, the first time since the second quarter of 2017. This compares to a $99 million net cash outflows in the second quarter of 2024.
The superannuation and investments assets under management (AUM) was $58.5 billion, up from $55.8 billion in the first quarter of 2025, driven by investment markets and resilient inflows.
It’s focused here on member retention to drive towards a sustainable positive cashflow position. That includes renewed investment to lift its digital engagement, rolling out its digital advice offering and the recent launch of AMP Lifetime Super to members.
New Zealand
Turning to New Zealand wealth management, the net cashflows there were $40 million, up from $11 million in the second quarter of 2024. This division’s AUM reached $12.2 billion, up from $11.6 billion in the first quarter of 2025.
AMP Bank
The diversified financial business said that its bank’s total look book was “managed for value” at $23.5 billion, up from $23.3 billion in the first quarter of 2025. It’s managing its volumes to preserve profit margins.
AMP Bank’s total customer deposits came to $20.5 billion, down from $20.7 in the first quarter of 2025, which was in line with the “steady” loan bank.
Final thoughts on the AMP share price
AMP said despite the positive momentum, investment markets remain volatile and continues to see competitive pressures, as well as an accelerating pace of change (driven by AI).
Over the last month the AMP share price has risen 33%, which means it has largely recovered from the pain after the February 2025 reporting season.
The business is clearly headed in the right direction, but there’s a long way to go to recover lost ground from before COVID-19. I wouldn’t call the ASX share a buy after its recent strong run, there are other ASX dividend shares that could make better buys, in my opinion.
