22nd Jun 2007 08:00
Old Mutual PLC22 June 2007 Old Mutual plc Ref 37/07 22 June 2007 Old Mutual South Africa - Investor presentation Old Mutual plc ("Old Mutual"), the international savings and wealth managementgroup, will present a detailed overview of Old Mutual South Africa, its life andasset management business in South Africa, to analysts and investors at 8.30a.m.today at Old Mutual Place, 2 Lambeth Hill, London EC4V 4GG. South Africa's healthy economy and rapidly growing black middle class will bemajor growth drivers for Old Mutual South Africa to build on its market-leadingposition in life assurance, and to grow its share of the wider wealth managementmarket. In its chosen market segments, Old Mutual South Africa will competethrough further expanding its distribution reach, introducing new era productsand providing specialised asset management options for investors. This isexpected to result in net client cash flow of 2.5% of funds under managementfrom 2009, while maintaining return on capital above 20%. Paul Hanratty, Managing Director, Old Mutual South Africa, said: "South Africa has had unprecedented period of growth over recent years, andwhile inflationary pressures could curb short-term economic momentum, prospectsin South Africa over the medium to long term remain excellent. This hastranslated into increased disposable income, particularly in the black middleclass. "Old Mutual has strong positions in the South African retail savings market. Ourwell-respected brand and reputation for providing innovative and sophisticatedinvestment solutions for the steady growth high-end market, supported by theintroduction of the new boutique asset management model, means that we canmaintain competitive advantage. While the mass retail market is expanding at arapid rate, it remains under-penetrated. Old Mutual's community relationships,distribution network and simple and focused product offering not only supportits leadership in this market, but also represent a huge opportunity to grow ourcustomer base. "Our breadth of services in the corporate market provides a strong foundationfor further growth. Here, our multi-boutique asset management model will attractnew flows, as will our drive into the small and medium-sized business market. Weare also making strides in obtaining retail sales through our corporaterelationships. "Overall, our leadership in product innovation, our boutique approach to assetmanagement, our extensive distribution, and greater synergies with Nedbank, meanwe can grow significantly our assets under management. We are confident that wewill extend our number one position in the life sector into success in otherwealth management areas." The full presentation will be available from 08.20a.m. today on the Company'swebsite, www.oldmutual.com. For those unable to attend the presentation, aconference call facility is available, for which the details are listed below. Time: 08.30 UK time UK dial-in: 0500 55 10 88 US dial-in: +1 866 779 1135 South Africa dial-in: 0800 99 14 61 Sweden dial-in: 0200 89 01 86 Conference title: Old Mutual Ends Enquiries Investor RelationsMalcolm Bell UK +44 (0)20 7002 7166Deward Serfontein SA +27 (0)21 509 8709 MediaJames Crampton UK +44 (0)20 7002 7133Nad Pillay SA + 27 (0)21 504 8026 About Old Mutual Old Mutual plc is an international savings and wealth management company basedin the UK. Originating in South Africa in 1845, the group has a balancedportfolio of businesses offering asset management, life assurance, banking andgeneral insurance services in over 40 countries, primarily South Africa, Europeand the United States. Old Mutual is listed on the London, Johannesburg andStockholm stock exchanges, among others. By conducting its business worldwide under its core values of integrity, respectand accountability, Old Mutual aspires to push beyond boundaries to drive valuefor all its stakeholders. In the year ended 31 December 2006, the group reported an increase in adjustedoperating profit of 16% to £1.4 billion (IFRS basis). Old Mutual had £249billion of funds under management at 31 March 2007, and 53,000 employees. For further information on Old Mutual plc, please visit its website at www.oldmutual.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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