10th Aug 2006 07:05
Old Mutual PLC10 August 2006 Old Mutual Asset Management (US) Reports Affiliates' Assets Under Management for Second Quarter 2006 BOSTON--August 9, 2006--Old Mutual Asset Management, the U.S. asset managementgroup of Old Mutual plc (LSE: OML), announced assets under management by thegroup's member firms of $230.8 billion, as of June 30, 2006. During the secondquarter, the sale of eSecLending reduced funds under management by $25.4billion. Excluding eSecLending, funds under management increased $5.2 billionfor the quarter or 2.3%, driven by strong net inflows of client assets whichtotaled $5.5 billion for the quarter. This brought net inflows to $9.7 billionthrough the first half of the year. In addition, net inflows from eSecLending'scash collateral assets contributed $10.3 billion, resulting in total net inflowsof $20 billion through June 30. Investment return in the assets under managementat member firms resulted in a reduction in AUM of $0.3 billion for the quarter. "Continued strong net inflows and upcoming product introductions place OldMutual Asset Management in a favorable position to increase total assets undermanagement," said Scott Powers, chief executive of Old Mutual Asset Management."As always, our business model is focused on enabling our member firms todeliver superior investment returns to clients." About Old Mutual Asset Management (US) Old Mutual Asset Management is the holding company for 19 distinct, boutiquefirms, 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: Elon Green, (212) 867-0131, [email protected] Relations UK: Malcolm Bell 00 44 20 7002 7166Investor Relations SA: Deward Serfontein 00 27 21 509 9709 # # # This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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