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05/05/2016

Old Mutual Wealth’s vertically integrated strategy of owning distribution, an investment platform, discretionary fund management and asset management contributed to the delivery of strong net client cash flows (‘NCCF’) of £1.8 billion in Q1 2016,  an increase of 80% (Q1 2015: £1.0 billion).  Gross sales increased by 17% to £5.4 billion (Q1 2015: £4.6 billion), primarily driven by strong sales into the Investment Division and the UK Platform.  

Paul FeeneyFunds under management (‘FUM’) increased by 3% since the start of the year to £107.1 billion (Q4 2015: £104.4 billion), primarily driven by strong NCCF growth.  UK Platform FUM was £35.4 billion (Q4 2015: £34.5 billion), with gross flows of £1.6 billion (Q1 2015: £1.4 billion) and net flows of £0.7 billion (Q1 2015: £ 0.6 billion).  Old Mutual Global Investors’ FUM increased by 5% to £26.0 billion (Q4 2015: £24.7 billion) and Quilter Cheviot’s FUM increased to £18.0 billion (Q4 2015: £17.8 billion).

Paul Feeney, CEO of Old Mutual Wealth, comments:  “We have achieved strong net client cash flows notwithstanding the volatile market conditions. We have also seen strong pensions sales in Q1 2016 as we continue to benefit from the introduction of pension freedoms in the UK last year.”

 

 

For more information contact

Vee MontebelloOld Mutual Wealth020 7778 9550vee.montebello@omwealth.com
Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

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 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 £127.3 billion in customer investments (as at 30 June 2017).

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 (as at 31 December 2016) million customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Old Mutual Wealth Management Limited, a Private Limited Company (Company Number 0604270), Old Mutual House Portland Terrace Southampton Hampshire SO14 7EJ.