| Wed 28 Apr 2004, 11:58 | | Old Mutual Asset Management Reports Assets Under |
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Old Mutual Asset Management Reports Assets Under Management for First Quarter
Old Mutual plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
Old Mutual Asset Management Reports Assets Under Management for First Quarter
2004
BOSTON--April 27, 2004--Old Mutual Asset Management, the U.S. asset management
group of Old Mutual plc (LSE: OML), today announced assets under management for
the group at the end of the first quarter of 2004. Assets managed by the
group"s member firms increased 3.9% in the quarter, from $154.1 billion on
December 31, 2003, to $160.0 billion on March 31, 2004. Net inflows of client
assets contributed $2.3 billion, or 1.5% of the increase over AUM at the
beginning of the period, while investment performance in the funds under
management at member firms accounted for the remaining 2.4% increase for the
quarter.
"Our member firms remain focused on meeting clients" investment objectives,
which accounts for our positive results this quarter," said Scott Powers, chief
executive of Old Mutual Asset Management. "As a group, the diversity of our
firms has allowed us to achieve consistent measured growth through a variety of
environments, and we continue to explore opportunities to develop new products
which address the needs of sophisticated institutional and individual
investors."
About Old Mutual Asset Management
The member firms of Old Mutual Asset Management provide high-quality, actively
managed investment products in all major asset classes and investment styles,
with each firm focusing on its own specialized area of expertise. More
information on member firms, and their investment teams and strategies, is
available from the group"s Web site at www.oldmutualus.com. 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 is available at www.oldmutual.com.
Contact:
Media: Tucker Hewes, (212) 207-9451, tucker@hewescomm.com
Investors: James Poole, 44 (0)20 7002 7000, james.poole@omg.co.uk
