25th Jan 2006 07:01
Old Mutual PLC25 January 2006 Old Mutual Asset Management (US) Reports Affiliates' Assets Under Management for Year-End 2005 Group Reaches New High of $226.3 Billion in Total Assets Under Management BOSTON--January 24, 2006--Old Mutual Asset Management, the U.S. asset managementgroup of Old Mutual plc (LSE: OML), today announced that assets managed by thegroup's member firms increased 23% overall during 2005 to $226.3 billion, a newhigh for the group, from $184.6 billion at year-end 2004. Net inflows of clientassets, including $11.2 billion in cash collateral assets, contributed a totalof $26.3 billion over the course of 2005, a new yearly high for the group.Investment return in the funds under management at member firms contributed$15.3 billion, or 8.3% of the increase for the year. "Through their strong performance on behalf of clients in 2005, our firmsreached several key hallmarks over the course of the year: a new high in overallassets under management, record levels of net inflows of client assets, and ourfifth consecutive year of net inflows since Old Mutual's entrance into the U.S.market in 2000," said Scott Powers, chief executive of Old Mutual AssetManagement. "Our firms continue to succeed by focusing on the needs of clients,and that will remain the highest priority of the group as we move forward." About Old Mutual Asset Management (US) Old Mutual Asset Management is the holding company for over 20 distinct,boutique firms, including asset managers that specialize in high-quality, activeinvestment strategies for institutional and individual investors. The group'sparent is Old Mutual plc, an international financial services company based inLondon, with operations in asset management, life assurance, banking and generalinsurance. More information on Old Mutual Asset Management (US), its memberfirms and their investment teams and strategies, is available from the group'swebsite at www.oldmutualus.com. Individual investors can access the investmentcapabilities of certain Old Mutual affiliates through mutual funds managed byOld Mutual Capital. Please see Old Mutual Capital's website atwww.oldmutualcapital.com for more complete information or to obtain a currentprospectus. The prospectus contains important information, including informationabout a mutual fund's investment objectives, risks, charges and expenses andshould be read carefully and considered before investing or sending money. Contact:Media: Tucker Hewes, (212) 207-9451, [email protected] UK: Malcolm Bell, 44 (0)20 7002 7166, [email protected] SA: Deward Serfontein, 27 21 509 8709, [email protected] # # # This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Old Mutual PLC