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Old Mutual Wealth Gross, Net Flows and Fum update Q1 2017

28 April 2017

Old Mutual Wealth (£bn)1

Q1 2017

Q1 2016

% Change

Net Client Cash flow (NCCF)

2.7

1.7

59%

Gross sales

7.2

5.0

44%

 

31-Mar-17

31-Dec-16

 

Funds Under Management (FUM)

122.3

115.3

6%

Paul Feeney, CEO of Old Mutual Wealth, commented:

“We have started the year very strongly with our highest ever quarter for net client cash flow and funds under management. Integrated flows from Intrinsic increased 60% to £0.8 billion (Q1 2016: £0.5 billion). Our Q1 2017 net flows, particularly onto the Platform and into OMGI, demonstrates that advisers and customers are increasingly recognising the strength of our model and that we are offering investment solutions that meet their needs. We have the right solutions for these uncertain times, particularly our multi-asset, absolute return and high alpha product ranges.

“While we are hopeful that this momentum will continue throughout 2017, we expect that markets will remain volatile and challenging in the medium-term, particularly until both the outcome of the upcoming general election and greater details on the terms of the UK’s exit from the EU are known.”

Selected additional data for Invest & Grow business2:

Gross flows, net flows and funds under management (£bn)

1 All reported numbers exclude Old Mutual Italy and the South African branches which are transferring to Old Mutual Emerging Markets and comparatives have been restated accordingly.
2 The Invest and Grow business excludes Heritage, the South African branches and Old Mutual Italy (sold in January 2017) and includes cross-business assets and flows on a gross basis in each of the businesses.
3 Old Mutual Global Investors incorporates single manager funds, plus all multi-asset solutions sold primarily through OMW channels.

For more information contact

Vee Montebello
Old Mutual Wealth
020 7778 9550
07872 665149
vee.montebello@quilter.com

Ed Gascoigne-Pees
Camarco
020 3757 4984
07884 001 949

Geoffrey Pelham-Lane
Camarco
020 3757 4985
07733 124 226

Notes to editors:

About Quilter plc:

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

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

  • The Multi-asset business is now Quilter Investors
  • Intrinsic to Quilter Financial Planning
  • The private client advisers business is now Quilter Private Client Advisers
  • The UK Platform to Quilter Wealth Solutions
  • The International business to Quilter International
  • The Heritage life assurance business to Quilter Life Assurance
  • Quilter Cheviot will retain its name

 

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 Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.