Oct 24 (Reuters) - AMP Ltd on Thursday said outflows at its Australian wealth management unit in the third quarter rose 30%, as damaging revelations of misconduct from a sector-wide inquiry continued to drive clients away.
For the quarter ended Sept. 30, the division recorded net outflows of A$1.94 billion ($1.33 billion), against A$1.49 billion worth of outflows a year earlier.
Total assets under management for the Australian wealth management unit at end-September rose to A$133.2 billion, compared with A$132.70 billion as of June 30.
$1 = 1.4592 Australian dollars Reporting by Rashmi Ashok in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber
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