1st Nov 2006 07:01
Old Mutual PLC01 November 2006 Old Mutual Asset Management (US) Reports Affiliates' Assets Under Management for Third Quarter 2006 BOSTON-October 31, 2006 -- Old Mutual Asset Management, the U.S. assetmanagement group of Old Mutual plc (LSE: OML), announced assets under management(AUM) by the group's member firms of $237.3 billion, as of September 30, 2006.Funds under management increased $6.5 billion for the quarter, or 2.8% ahead ofAUM in the second quarter. This increase was driven by strong net inflows ofclient assets, which totaled $9.5 billion for the quarter, a 4.1% change.Investment return in the AUM at member firms resulted in an increase in AUM of$7.4 billion for the quarter, which represented a 3.2% change. In September,$10.4 billion of AUM from First Pacific Advisors was transferred out of OldMutual Asset Management, resulting in a -4.5% change. "Strong net inflows from new and existing clients of our member firms continueto boost our total assets under management," said Scott Powers, chief executiveof Old Mutual Asset Management. "Growth drivers continue to be our ability todeliver attractive investment returns and innovative products, and a businessmodel that fully supports the efforts of member firms to excel." About Old Mutual Asset Management (US)Old Mutual Asset Management is the holding company for 18 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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