Old Mutual AM reports 23% growth
US - Old Mutual Asset Management, the US asset management group of Old Mutual, has grown assets managed by the group's member firms by 23% during 2005.
That growth has manifested in a US$41.7bn increase - a new high for the group - after it finished 2004 on $184.6bn
Key contributors to those figures were net inflows of client assets (including $11.2bn in cash collateral assets), which contributed a total of $26.3bn, while investment return in the funds under management at member firms contributed $15.3bn.
Scott Powers, chief executive of Old Mutual Asset Management said the group had reached several key hallmarks over the course of the year, including “a new high in overall assets under management, record levels of net inflows of client assets, and our fifth consecutive year of net inflows since Old Mutual's entrance into the US market in 2000.
Story by Damian Clarkson
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