27th Apr 2005 07:00
Old Mutual PLC27 April 2005 Old Mutual Asset Management Reports Assets Under Management for First Quarter 2005 Net Inflows Reach Record Quarterly High of $9.4 Billion BOSTON--April 26, 2005--Old Mutual Asset Management, the U.S. asset managementgroup of Old Mutual plc (LSE: OML), today announced assets under management forthe group at the end of the first quarter of 2005. Assets managed by the group'smember firms increased 5.4% in the quarter, from $184.6 billion on December 31,2004, to $194.5 billion on March 31, 2005. Net inflows of client assets in thequarter reached a record high of $9.4 billion, including $2.0 billion in cashcollateral assets, while sales of businesses in Japan accounted for a reductionof $0.2 billion. Investment performance in the funds under management at memberfirms was responsible for $0.7 billion of the total increase for the quarter. "This quarter's group-level results reflect superior execution by our memberfirms," said Scott Powers, chief executive of Old Mutual Asset Management. "Ourfirms continue to focus on their investment disciplines and providing clientswith the specialized expertise and specific market exposure they require." About Old Mutual Asset ManagementThe 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]: 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:
Old Mutual PLC