(Reuters) – AMP (OTC:) Ltd mentioned on Thursday its Australian wealth administration enterprise logged one other quarter of money outflows because it continued to lose buyers amid market uncertainty because of the Russia-Ukraine struggle, with property below administration additionally taking successful.

Internet outflows from the wealth administration enterprise had been A$1.33 billion ($963.45 million) for the three months ended March 31, lower than the A$1.99 billion outflow a 12 months earlier.

In the meantime, property below administration on the unit fell 4.1% sequentially to A$136.47 billion on decrease funding markets, the corporate mentioned.

AMP, attempting to show itself round after a sequence of scandals which included allegations of worker misconduct, noticed a slowdown in outflows at its flagship Australian wealth administration arm within the earlier 12 months ending December.

“We’re seeing optimistic indicators of progress and momentum and have set a transparent path to speed up the transformation of AMP Restricted,” Chief Govt Alexis George mentioned on Thursday.

AMP shares had been down 0.4% at A$1.19 in early commerce.

The 172-year-old agency final week confirmed it could divest AMP Capital by promoting the enterprise in numerous components for a complete valuation of A$2.04 billion, and focus its consideration on the remaining banking, wealth and monetary recommendation divisions.

($1 = 1.3805 Australian {dollars})