AMP has attracted net cashflows of $662 million into its AMP Flexible Super product in the first quarter of 2011.
Of the cashflow, 54 per cent of inflows were contributions to superannuation accounts and 43 per cent of cash inflows were contributions to retirement accounts.
AMP Flexible Super - superannuation cash inflows included $4 million of inflows relating to pre-retirement customers moving from AMP's closed retail superannuation product, AMP Flexible Lifetime - Super, to the core option in AMP Flexible Super - superannuation.
At 31 March 2011, AMP Flexible Super assets under management (AUM) stood at $2.0 billion, with $0.8 billion in superannuation accounts and $1.2 billion in retirement accounts.
The Choice option within Flexible Super accounts for 18 per cent of the customer base and 67 per cent of the total AUM.
AMP's corporate superannuation net cashflows were $122 million, down $68 million on the first quarter of 2010.
Net cashflows fell as a result of higher cash inflows being more than offset by higher cash outflows, AMP said.
"Cash inflows increased as a result of higher rollovers, with employer contributions remaining resilient, however discretionary contributions remained subdued," AMP said.
Cash outflows increased by 26 per cent as a result of both higher internal and external outflows, the company said.
