Old Mutual year-to-date managed funds, sales rise
Financial services group Old Mutual (OML.L), which has said it will split into its four main businesses, reported a jump in funds under management from the start of the year, driven by strong net flows and favourable market movements.
The Anglo-South African company said funds under management rose by 14 percent to 119 billion pounds, while third-quarter net client cash flows fell to 0.9 billion pounds from 2.3 billion pounds a year earlier.
Year-to-date net client cash flows stood at 4.1 billion pounds, compared with 4.6 billion pounds a year earlier, hurt by market weakness and continued... read more
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