Business Services Industry
UK woes savage AMP.
Australasian Business Intelligence, August, 2003
Aug 07, 2003 (Herald Sun - ABIX via COMTEX)
The shares of embattled Australian financial service group AMP have slumped to a new low. On 7 August 2003, the stock closed $A0.40 weaker, at $A4.35. The share price slump followed the release of an internal audit report which raised concerns about AMP's UK arm, Henderson Global Investors. AMP has responded to a query from the Australian Stock Exchange by indicating that the report was preliminary in nature and contained some inaccuracies. AMP also stresses that the audit team found no evidence that client mandates had been breached at Henderson. However, Tolhurst Noall's Marcus Padley says AMP could lose investment mandates as a result of these concerns.
Publication Date: 8 August 2003
AMP LIMITED...
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