25th Jan 2005 07:00
Old Mutual PLC25 January 2005 Old Mutual Asset Management Reports Assets Under Management for Year-End 2004 BOSTON--January 24, 2005--Old Mutual Asset Management, the U.S. asset managementgroup of Old Mutual plc (LSE: OML), today announced assets under management forthe group as of year-end 2004. Assets managed by the group's member firmsincreased 19.8% overall during the year, from $154.1 billion on December 31,2003, to $184.6 billion on December 31, 2004. Net inflows of client assets,including $3.2 billion in cash collateral assets, contributed a total of $12.3billion, or 8.0% of the increase for the year. Investment return in the fundsunder management at member firms accounted for the remaining 11.8% increaseduring 2004. "Our firms have succeeded by remaining focused on meeting the needs of ourclients," said Scott Powers, chief executive of Old Mutual Asset Management."2004 marks our fourth consecutive year of net inflows of client assets to ourmember firms, and we appreciate the confidence our clients have placed in ourinvestment teams. Earning their confidence will remain our highest priority." About Old Mutual Asset Management The member firms of Old Mutual Asset Management provide high-quality, activelymanaged investment products in all major asset classes and investment styles,with each firm focusing on its own specialized area of expertise. Moreinformation on member firms, and their investment teams and strategies, isavailable from the group's Web site at www.oldmutualus.com. The group's parentis Old Mutual plc, an international financial services company based in London,with operations in asset management, life assurance, banking and generalinsurance. More information on Old Mutual is available at www.oldmutual.com. Contact: Media: Tucker Hewes, (212) 207-9451, [email protected] Investors: James Poole, 44 (0)20 7002 7000, [email protected] # # # This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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