Old Mutual Wealth inflows rise 80%

Increase graphOld Mutual Wealth’s net client cash flows increased 80% year-on-year in the first quarter of 2016, while funds under management (FUM) jumped 3%, despite ongoing market volatility. The company recorded net client cash flows of £1.8 billion (€2.3 billion) in Q1 this year, up from £1 billion in 2015. It said the strong flows were driven by strong sales into its investment division and UK platform. Meanwhile, the company saw funds under management increase by 3% since the start of the year to reach £107.1 billion, up from £104.4 billion in the final quarter of last year. The firm's gross sales increased 17%, from £4.6 billion in Q1 last year to to £5.4 billion this year, while platform funds under management reached £35.4 billion, up from £34.5 billion in Q4 2015. Over the quarter, Old Mutual Global Investors' FUM increased by 5% to £26 billion, while Quilter Cheviot's FUM increased to £18bn, up from £17.8 billion in Q4 2015. In total, the group manages assets of around £156.3 billion. ©2016 funds europe

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