| Thu 10 Aug 2006, 8:02 | | Old Mutual Asset Management (US) reports affiliate |
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OML
OLOML
Old Mutual Asset Management (US) reports affiliates" assets under management for
second quarter 2006
Old Mutual Plc
ISIN Code: GB0007389926
JSE Share Code: OML
NSX Share Code: OLM
Issuer Code: OLOML
Old Mutual Asset Management (US) Reports Affiliates" Assets Under Management for
Second Quarter 2006
BOSTON--August 9, 2006--Old Mutual Asset Management, the U.S. asset management
group of Old Mutual plc (LSE: OML), announced assets under management by the
group"s member firms of $230.8 billion, as of June 30, 2006. During the second
quarter, the sale of eSecLending reduced funds under management by $25.4
billion. Excluding eSecLending, funds under management increased $5.2 billion
for the quarter or 2.3%, driven by strong net inflows of client assets which
totaled $5.5 billion for the quarter. This brought net inflows to $9.7 billion
through the first half of the year. In addition, net inflows from eSecLending"s
cash collateral assets contributed $10.3 billion, resulting in total net inflows
of $20 billion through June 30. Investment return in the assets under
management at member firms resulted in a reduction in AUM of $0.3 billion for
the quarter.
"Continued strong net inflows and upcoming product introductions place Old
Mutual Asset Management in a favorable position to increase total assets under
management," said Scott Powers, chief executive of Old Mutual Asset Management.
"As always, our business model is focused on enabling our member firms to
deliver superior investment returns to clients."
About Old Mutual Asset Management (US)
Old Mutual Asset Management is the holding company for 19 distinct, boutique
firms, including asset managers that specialize in high-quality, active
investment strategies for institutional and individual investors. 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.oldmutualcapital.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.
Contact:
Media: Elon Green, (212) 867-0131, elon@benabe.com
Investor Relations UK: Malcolm Bell 00 44 20 7002 7166
Investor Relations SA: Deward Serfontein 00 27 21 509 9709
Date: 10/08/2006 08:02:05 AM Produced by the JSE SENS Department
