Completion of Sale of US Affiliates

RNS Number : 6715U

Old Mutual PLC

02 January 2013

 



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2 January 2013

Old Mutual Asset Management Completes Sale of Five Affiliates

Old Mutual Asset Management (OMAM), the U.S.-based global asset management business of Old Mutual plc, announced today that it has closed the previously announced transactions to sell five of its U.S. affiliates to their respective senior management teams. The five affiliate asset managers are 2100 Xenon Group, 300 North Capital, Analytic Investors, Ashfield Capital Partners and Larch Lane Advisors. These businesses had combined assets under management of $12 billion as at 30 September 2012.

Terms of the five transactions were not disclosed. OMAM entered into definitive agreements with the affiliate firms in October 2012.

Enquiries

External communications
Patrick Bowes	UK	[phone]
Investor relations
Kelly de Kock	SA	[phone]
Media
William Baldwin-Charles		[phone] [phone]

Notes to Editors

Old Mutual

Old Mutual is an international long-term savings, protection and investment Group.  Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 12 million customers in Africa, the Americas, Asia and Europe.  Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £267 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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