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Article: AMP tipped to reverse weak market showing.
- Article from:
- Australian Banking & Finance
- Article date:
- March 31, 1999
CopyrightCOPYRIGHT 1999 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WHEN JEFF Hall exchanged his membership rights in AMP Ltd for shares in the nation's largest insurer last June, the school teacher waited just six months to reap the windfall and buy a new car.
Meanwhile, Cliff Caldwell, the general manager of Australian Foundation Investment Co, which oversees $2.5 billion, is buying on dips in the stock and says he's "happy to be in AMP for the long term."
It's a tale of two investors played out every day since June last year, when AMP changed from a mutual society owned by its members to a publicly traded company owned by shareholders.
Now AMP, the second-worst performer on the ASX 20 leaders index in the ...