10-year

10-Year Anniversary Promotion (20% off)

Join GuruFocus Premium Membership Now for Only $279/Year

Once a decade discount

Save up to $500 on Global Membership.

Don't Miss It !

Free 7-day Trial
All Articles and Columns »

David Herro Comments on AMP Ltd.

April 23, 2013 | About:
Holly LaFon

Holly LaFon

277 followers
We purchased one new stock during the quarter: AMP (ASX:AMP), the leading independent wealth management company in Australia and New Zealand. Australian law requires employers to contribute 9% of salary to employees’ retirement, and this number is expected to increase to 12% by 2019. This is in addition to member contributions, which have averaged 2-3% over the past few years. We believe AMP will benefit from the required contribution increase as well as expected wage growth in Australia.

From David Herro's International Fund Q1 2013 commentary.


Rating: 3.0/5 (1 vote)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK