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Australia: optimism for AMP

Chanticleer at the Australian Financial Review has this piece (probably only available to subscribers) that talks up the prospects for AMP - in this case meaning, the AMP that will remain in Australia, and out of the insurance business. It is easy to find negative articles about AMP, (because of conduct problems, and the controversial sale of the wealth protection business) so this provides a welcome change. Chanticleer advances two reasons to be optimistic: the first is straightforward, reckoning that AMP is undervalued, and with the return of capital planned from the sales, plus a projected dividend rate of over 11%, the business is good value. The other is the approach of the new CEO, Francesco De Ferrari, who asked staff to be 'optimistic and agile'. 

Please note, none of the above is financial advice, I am merely reporting the view of a journalist at the AFR.

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