Despite the tumultuous last few months in the market, Old Mutual Asset Management
has reported an5 percent increase in the AUM of its member firms. As of September 30, the combined AUM of all the Old Mutual affiliated firms was $330.2 billion.
Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc (LSE: OML), announced assets under management (AUM) by the group's member firms of $330.2 billion, as of September 30, 2007, 5% ahead of AUM from the previous quarter. The $15.1 billion quarter-over-quarter increase was driven by positive net cash flow of $9.1 billion and investment return totaling $6.0 billion.
"In what proved to be a challenging quarter for many financial services companies, Old Mutual Asset Management member firms generated net inflows of client assets along with positive market returns," said Scott Powers, chief executive officer of Old Mutual Asset Management. "These results reflect our focus on active management and quality investments, and the depth of expertise that resides across our 20 investment affiliates."
About Old Mutual Asset Management (US)
Old Mutual Asset Management is the holding company for 20 distinct, boutique firms, including asset managers that specialize in high-quality, active investment strategies for institutional and individual investors; and the Old Mutual Asset Management Trust Company. The group's parent is Old Mutual plc, an international financial services company based in London, with operations in asset management, life assurance, banking and general insurance. More information on Old Mutual Asset Management (US), its member firms and their investment teams and strategies, is available from the group's website at www.oldmutualus.com . Individual investors can access the investment capabilities of certain Old Mutual affiliates through mutual funds managed by Old Mutual Capital. Please see Old Mutual Capital's website at www.oldmutualfunds.com for more complete information or to obtain a current prospectus. The prospectus contains important information, including information about a mutual fund's investment objectives, risks, charges and expenses and should be read carefully and considered before investing or sending money.
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Old Mutual Asset Management * 200 Clarendon Street, 53rd Floor * Boston, MA 02116
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