AMP’s first-half results were released last Thursday morning – what one of the most hotly anticipated profit results of the past . Hugh Dive from Atlas Funds Management explains how investors now on new CEO De Ferrari – revealing his strategy to turn beleaguered 170-year-old financial services company, selling insurance business for the second time and conducting a raising. Since March last AMP’s share price has $5.50 to $1.86, prompting some analysts to view that this may bottom for AMP.
But is it a buy or are you just catching a ? Dive’s summary is that: “Maintaining the status quo for AMP is an option for the new CEO, but this is likely to be one of the restructures in the history of Australian . Reinventing AMP will probably take longer and be more expensive than management currently estimates, as such we would prefer to watch AMP being “reinvented” from the sidelines given AMP has suspended the dividend for the near term and currently fails our Quality Filter Model.”