Old Mutual Wealth has delivered a strong first half of the year, with net client cash flow up 53% on the same period in 2016, while Old Mutual Global Investors (OMGI) has taken in more money in the first half of 2017 than during the whole of last year.
The wealth management business of Old Mutual has reported net client cash flow of £4.9bn in the first six months of the year, up from £3.2bn in H1 2016. The firm said there was a "particularly noteworthy performance" in the UK platform business and across OMGI funds, especially the multi-asset offerings, which took in a net £1.6bn. Net inflows were up some 11% of the firm's opening funds under management (FUM), which exclude its Heritage closed book, beating its 5% annualised target. Meanwhile, pre-tax adjusted operating profits jumped from £104m to £134m, a 29% increase. Performan...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
