AMP has reported a fall in its wealth management assets under management (AuM) due to market turbulence triggered by the Covid-19 crisis.

In the Australian wealth unit, AuM totalled A$116.3bn ($73.7bn) at the end of March 2020. The AuM at the business was A$134.5bn at December-end 2019.

The business recorded net cash outflows of A$1.9bn in Q1 2020.