| Mon 25 Oct 2004, 13:19 | | OLD MUTUAL ASSET MANAGEMENT REPORTS ASSETS |
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OLD MUTUAL PLC - OLD MUTUAL ASSET MANAGEMENT REPORTS ASSETS UNDER MANAGEMENT FOR
THIRD QUARTER 2004
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 Third Quarter
2004
BOSTON--October 25, 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 third quarter of 2004. Assets managed by the
group`s member firms increased 3.1% in the quarter, from $163.4 billion on June
30, 2004, to $168.4 billion on September 30, 2004. Net inflows of client
assets contributed $3.3 billion, or 2.0% 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 1.1% increase for the
quarter. Overall in the first three quarters of 2004, the group`s member firms
in aggregate had net inflows of client assets of $8.5 billion, including $2.4
billion in cash collateral assets.
`Our success is dependent on the ability of our member firms to meet clients`
investment objectives and provide exceptional service,` said Scott Powers, chief
executive of Old Mutual Asset Management. `We`re committed to creating an
environment in which our firms can do their best work for clients by focusing on
their strengths as money managers.`
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
Date: 25/10/2004 01:00:04 PM
Produced by the JSE SENS Department
