OMAM (US) announces AUM
Old Mutual PLC
01 November 2006
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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