Old Mutual Asset Management (US) Reports Increase in Affiliates' Assets Under Management for Q4 and 2009

BOSTON, March 11 /PRNewswire/ -- Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc (LSE: OML), announced assets under management (AUM) by the group's investment affiliates of $261 billion, as of December 31, 2009. The quarter-end total represented a 9% increase in AUM from the end of 2008 and was flat relative to the prior quarter. For the full year, net external driven cash flows from continuing operations were a negative $7.1 billion, representing (3.0%) of assets under management at the beginning of the year.

"Old Mutual Asset Management increased assets under management by close to 10% last year, despite a very difficult economic environment. To the extent investors continue to invest in equities and similar risk assets, our affiliates' array of quality strategies and strong relative investment performance positions us well to take advantage of the market recovery," said Tom Turpin, CEO of Old Mutual Asset Management.

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

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