| Tue 25 Jan 2005, 9:54 | | Old Mutual Asset Management Reports Assets |
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Old Mutual Plc - Old Mutual Asset Management reports assets under management for
year-end 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 Year-End 2004
BOSTON--January 24, 2005--Old Mutual Asset Management, the U.S. asset management
group of Old Mutual plc (LSE: OML), today announced assets under management for
the group as of year-end 2004. Assets managed by the group`s member firms
increased 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 $12.3
billion, or 8.0% of the increase for the year. Investment return in the funds
under management at member firms accounted for the remaining 11.8% increase
during 2004.
`Our firms have succeeded by remaining focused on meeting the needs of our
clients,` said Scott Powers, chief executive of Old Mutual Asset Management.
`2004 marks our fourth consecutive year of net inflows of client assets to our
member firms, and we appreciate the confidence our clients have placed in our
investment 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, 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: 25/01/2005 09:00:03 AM
Produced by the JSE SENS Department
