Old Mutual Share Price (OML) - Buy OML Shares

Old Mutual plc is a global savings and wealth management giant with businesses in asset management, life assurance, banking and general insurance. With 54,000 employees who operate in over 40 countries worldwide, it is an FTSE 100 company and is listed on the London, Johannesburg, Zimbabwe, Malawi and Namibia stock exchanges.

Operating principally in the long-term savings market, the company witnessed a significant change during the past year in that it is no longer dominated by the traditional with-profits life assurance products. The foundation of the company's business strategy of disciplined diversification ensures a broad product range, which in turn provides an element of resilience in the current unpredictable economic climate.

A core element is asset management with a view to growing customers' savings and wealth, then life assurance which provides solutions that address both protection and retirement savings needs, followed by banking, where Old Mutual plc is a majority shareholding in Nedbank, a leading South African bank franchises, and finally, general insurance which is offered through majority shareholders in Mutual and Federal to provide general insurance services in Southern Africa.

The annual report for 2007 cites excellent investment performance across the group, an increase of 18% to £279 billion in total funds under management, a strong net client cash flow of £23.4 billion with 10% of operating funds under management and an adjusted operating earning per share up by 12% to 16.9p on an IFRS basis. Share price on the London stock exchange is 52.50p (20th January 2009).

Old Mutual's business strategy of "going the distance" will surely help to achieve its vision of becoming a premier international savings and wealth management business.