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03/03

WealthSelect assets hit £860 million after one year

Total assets in Old Mutual Wealth’s range of managed investment portfolios, WealthSelect, stand at £860 million, with investments by more than 9,000 clients since launch on 24 February 2014.

Investments have been made across a variety of tax wrappers: 45% pension, 32% Isa, 18% unwrapped, 5.0% bond with strong portfolio performance. For example, looking at the pension portfolios, risk level 3 produced a total return of 8.79%, risk level 5 of 11.68% and risk level 10 of 16.28%. Each risk category performed in line with expectations.

Since launch, over 70% of the investment managers selected to run sub-advised mandates have out-performed against their peer-group.

Old Mutual Wealth investment expert, Dean Bowden, says:

“The WealthSelect managed portfolio service has delivered on its promise of a cost-effective investment solution offering reliable performance within risk parameters set by the customer.

“The investment expertise of Old Mutual Global Investors and best in breed fund managers selected to run sub-advised mandates, combined with the scale of and distribution capability of Old Mutual Wealth, has successfully led to the construction of what we believe is a compelling proposition for clients and advisers.

“This is illustrated by the fact that over 9,000 customers with £860m in assets have chosen WealthSelect.”

For more information please contact

Michael GlenisterOld Mutual Wealth 0207 7789 63807469 144 535
Tim Skelton-SmithOld Mutual Wealth 02380 916 99807824 145 076

Notes to Editors:

Old Mutual Wealth

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.