Old Mutual Asset Management (US) Reports Affiliates' Assets Under Management for Q2 2009

Thu. August 06, 2009; Posted: 11:25 AM

BOSTON, Aug 06, 2009 /PRNewswire via COMTEX/ -- OLMUY | Quote | Chart | News | PowerRating -- Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc (LSE: OML), announced assets under management (AUM) by the affiliated investment firms of $247.1 billion, as of June 30, 2009, with second quarter net cash flows of $2.6 billion and YTD net cash flows of $.6 billion. Market recovery in the second quarter was $23.8 billion, and YTD market appreciation was in excess of $7.6 billion. The quarter-end total represented a 3% increase over end of prior year AUM. The decision to discontinue operations at Clay Finlay resulted in a $1.5 billion reduction in funds under management during the period.

"As the capital markets showed signs of stabilizing, Old Mutual Asset Management benefited from both positive inflows and favorable investment performance," said Tom Turpin, President and CEO of Old Mutual Asset Management. "We recognize the markets may face significant ongoing challenges, but are confident our 18 asset management boutiques will continue to provide clients with institutional-quality investment strategies and distinctive diversification opportunities."

About Old Mutual Asset Management

Old Mutual Asset Management, the name under which Old Mutual US Holdings Inc. conducts its US asset management business, is the holding company for 18 distinct, boutique firms, including asset managers that specialize in high-quality, active investment strategies for institutional and individual investors. The group's parent is Old Mutual plc, an international financial services company based in London, with operations in asset management, life assurance, banking and general insurance. More information on Old Mutual Asset Management, its member firms and their investment teams and strategies, is available from the group's website at www.oldmutualus.com.

SOURCE Old Mutual Asset Management (US)

http://www.oldmutualus.com

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