AMP had its AGM last Thursday. The general tone was well received by analysts and not surprisingly. Thursday was different. The company has stabilised GIO and the huge UK investment that cost so much in earnings growth in the last couple of years are now beginning to pay off. In other words the UK investment is paying off.
Insurance companies are therefore doubly geared to a rising market.
Growth in the UK funds Management as above PE 19x falling to 17x. All in all a good portfolio stock. Just a word of caution though. The best case outcome from the Thylacine-1 drilling according to Macquarie is 50cps. The stock has risen from 228c last Thursday to 279c last night.