May 10 (Reuters) - AMP Ltd AMP.AX :
* AMP PROVIDES Q1 18 UPDATE
* AWM ASSETS UNDER MANAGEMENT OF A$128.3 BILLION AT Q1 18, DOWN 2 PER CENT FROM Q4 17, LARGELY DUE TO WEAKER INVESTMENT MARKETS
* AWM Q1 NET CASH OUTFLOW OF A$200 MILLION, IN LINE WITH Q1 17
* "AUSTRALIAN WEALTH MANAGEMENT EXPERIENCED CASHFLOWS IN LINE WITH Q1 IN 2017, AS WELL AS A SMALL REDUCTION IN AUM FOLLOWING WEAKER INVESTMENT MARKETS"
* AMP CAPITAL AUM INCREASED FROM A$187.7 BILLION AT END OF Q4 17 TO A$188.1 BILLION IN Q1 18
* CONTINUES TO REVIEW ADVISER CONDUCT; REVIEW WILL LEAD TO FURTHER CUSTOMER REMEDIATION COSTS AND ASSOCIATED EXPENSES
* CONTINUES TO PROGRESS PORTFOLIO REVIEW; HOWEVER, CURRENTLY PRIORITISING PERFORMANCE OF BUSINESS, BOARD RENEWAL AND APPOINTMENT OF NEW CEO