AMP’s superannuation and investments business has recorded its first positive half-year net cashflows since 2017, with chief executive Blair Vernon crediting strong returns and a beefed-up digital offer for bringing members to the fund directly.

The $62.6 billion super and investments division posted net cashflows of $76 million for the six months to 30 June – a turnaround from net outflows of $75 million in the prior corresponding period – in first-half results released on Thursday that saw group underlying net profit climb 33 per cent to $174 million.

AMP’s flagship MySuper option returned 11.3 per cent for the 2026 financial year. AMP’s returns have helped drive inflows and positive sentiment from its clients, Vernon told Investment Magazine, but the business is also now deploying more digital capabilities and is seeing members come to it directly.

“That’s really encouraging, because that’s true organic growth. We’ve got more of those digital tools and capabilities coming in the second half that we think will continue to expand that reach. The other thing is we’re seeing renewed interest and engagement from employers and advisers and that’s an area we continue to see opportunity for.”

Vernon has previously identified the corporate channel as a key growth opportunity for the business, and said the improved attractiveness of its offer to employers goes beyond investment returns.

“We worked really hard on expanding our retirement solution that we pioneered, which obviously started on North, into our super fund. I was talking with a major employer that’s been a client of ours, and talking through the benefit Lifetime Super Boost delivers in terms of individual members is really compelling.

“The other piece that is resonating with the employers and advisers is the digital advice capability; for employers, the ability of their staff to use those tools really enhances the confidence they have in their staff being able to achieve a great retirement outcome.”

But Vernon said AMP isn’t hunting acquisitions to grow the business.

“Our priority is organic growth, and I think the results demonstrate we’re really starting to activate that across North, across super and investments, and indeed across our New Zealand franchise, and we want to keep driving that.”