| Wed 1 Nov 2006, 9:00 | | Old Mutual Plc - Asset Management (US) Reports Aff |
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OML
OLOML
Old Mutual Plc - Asset Management (US) Reports Affiliates" Assets Under
Management for Third Quarter 2006
Old Mutual Plc
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
OLD MUTUAL PLC
Old Mutual Asset Management (US) Reports Affiliates" Assets Under Management
for Third Quarter 2006
BOSTON-October 31, 2006 -- 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 $237.3 billion, as of
September 30, 2006. Funds under management increased $6.5 billion for the
quarter, or 2.8% ahead of AUM in the second quarter. This increase was driven
by strong net inflows of client assets, which totaled $9.5 billion for the
quarter, a 4.1% change. Investment return in the AUM at member firms resulted
in an increase in AUM of $7.4 billion for the quarter, which represented a
3.2% change. In September, $10.4 billion of AUM from First Pacific Advisors
was transferred out of Old Mutual Asset Management, resulting in a -4.5%
change.
"Strong net inflows from new and existing clients of our member firms continue
to boost our total assets under management," said Scott Powers, chief
executive of Old Mutual Asset Management. "Growth drivers continue to be our
ability to deliver attractive investment returns and innovative products, and
a business model that fully supports the efforts of member firms to excel."
About Old Mutual Asset Management (US)
Old Mutual Asset Management is the holding company for 18 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
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Date: 01/11/2006 09:00:21 AM Produced by the JSE SENS Department
