Old Mutual PLC OMW gross, net flows and FUM update Q1 2017 (6220D)
April 28 2017 - 2:01AM
UK Regulatory
TIDMOML
RNS Number : 6220D
Old Mutual PLC
28 April 2017
Old Mutual plc
Ref 87/17
28 April 2017
OLD MUTUAL WEALTH GROSS, NET FLOWS AND FUM UPDATE Q1 2017
Old Mutual Wealth (GBPbn)(1) Q1 2017 Q1 2016 % Change
============================== ========== ========== =========
Net Client Cash flow (NCCF) 2.7 1.7 59%
Gross sales 7.2 5.0 44%
============================== ========== ========== =========
31-Mar-17 31-Dec-16
============================== ========== ========== =========
Funds Under Management (FUM) 122.3 115.3 6%
============================== ========== ========== =========
Paul Feeney, CEO of Old Mutual Wealth, commented:
"We have started the year very strongly with our highest ever
quarter for net client cash flow and funds under management.
Integrated flows from Intrinsic increased 60% to GBP0.8 billion (Q1
2016: GBP0.5 billion). Our Q1 2017 net flows, particularly onto the
Platform and into OMGI, demonstrates that advisers and customers
are increasingly recognising the strength of our model and that we
are offering investment solutions that meet their needs. We have
the right solutions for these uncertain times, particularly our
multi-asset, absolute return and high alpha product ranges.
"While we are hopeful that this momentum will continue
throughout 2017, we expect that markets will remain volatile and
challenging in the medium-term, particularly until both the outcome
of the upcoming general election and greater details on the terms
of the UK's exit from the EU are known."
Selected additional data for Invest & Grow business2:
Gross flows, net flows and
funds under management (GBPbn)
================================================= =============== ================== ========================= ================
Market
and
FUM Gross Gross Net other FUM
1-Jan-17 inflows outflows flows movements 31-Mar-17
================ ============== =============== =============== ================== ========================= ================
Old Mutual
Global
Investors
(OMGI)(3) 31.4 4.3 (2.3) 2.0 1.2 34.6
Quilter
Cheviot 20.7 0.7 (0.5) 0.2 0.9 21.8
Platform 41.4 2.2 (1.2) 1.0 1.6 44.0
International 16.9 0.5 (0.3) 0.2 0.4 17.5
================ ============== =============== ================== ========================= ================
Market
and
FUM Gross Gross Net other FUM
1-Jan-16 inflows outflows flows movements 31-Mar-16
================ ============== =============== =============== ================== ========================= ================
Old Mutual
Global
Investors 24.7 2.9 (1.8) 1.1 0.2 26.0
Quilter
Cheviot 17.8 0.6 (0.4) 0.2 - 18.0
Platform 34.5 1.6 (0.9) 0.7 0.2 35.4
International 14.5 0.4 (0.3) 0.1 0.1 14.7
================ ============== =============== =============== ================== ========================= ================
(1) All reported numbers exclude Old Mutual Italy and the South
African branches which are transferring to Old Mutual Emerging
Markets and comparatives have been restated accordingly.
(2) The Invest and Grow business excludes Heritage, the South
African branches and Old Mutual Italy (sold in January 2017) and
includes cross-business assets and flows on a gross basis in each
of the businesses.
(3) Old Mutual Global Investors incorporates single manager
funds, plus all multi-asset solutions sold primarily through OMW
channels.
Enquiries
External communications
Patrick Bowes +44 20 7002 7440
Investor relations
Dominic Lagan +44 20 7002 7190
Media
William Baldwin-Charles +44 20 7002 7133
+44 7834 524833
Notes to Editors
Old Mutual provides investment, savings, insurance and banking
services to 19.4 million customers in Africa, the Americas, Asia
and Europe. Originating in South Africa in 1845, Old Mutual has
been listed on the London and Johannesburg Stock Exchanges, among
others, since 1999.
Old Mutual is executing its strategy of managed separation,
which will entail separating its four businesses into standalone
entities. The four businesses are:
Old Mutual Emerging Markets: an attractive business with a
dominant position in South Africa, well-placed to capitalise on
sub-Saharan African growth as a diversified financial services
provider with strong operations in key East and West African
markets.
Nedbank: one of South Africa's four largest banks with very
strong corporate, commercial and property finance franchises, and a
growth opportunity in the retail market, as well as pan-African
optionality through its stake in Ecobank Transnational Inc
(ETI).
Old Mutual Wealth: a leading, integrated wealth management
business, focused on the UK upper and middle market, with strong
prospects in a rapidly growing GBP3 trillion market.
OM Asset Management: an institutionally focussed, multi-boutique
asset management business, delivering strong, diversified growth in
attractive asset classes through organic initiatives and
acquisitions.
For the year ended 31 December 2016, Old Mutual reported an
adjusted operating profit before tax of GBP1.7 billion and had
GBP395 billion of funds under management. For further information
on Old Mutual plc and the underlying businesses, please visit the
corporate website at www.oldmutualplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
QRFKMGZDNNKGNZM
(END) Dow Jones Newswires
April 28, 2017 02:01 ET (06:01 GMT)
Old Mutual (LSE:OML)
Historical Stock Chart
From Apr 2024 to May 2024
Old Mutual (LSE:OML)
Historical Stock Chart
From May 2023 to May 2024