Old Mutual sees assets up 14 per cent, reporting healthy emerging markets

Harriet Green
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Old Mutual has reported funds under management up 14 per cent to £287.5bn year-to-date. Group chief executive Julian Roberts (pictured) highlighted "healthy" sales in emerging markets and positive client net cash flows, in this morning's announcement. (Release)

The long-term savings and investment group also reported gross sales of £6.5bn - up 11 per cent in the three months to 30 September.

US Asset Management produced cash flows of £1.5bn, up from £1.28bn in the third quarter of 2012, with the group's Nedbank improving its operational performance. Roberts commented that the group has also seen a large rise in UK platform sales.

Old Mutual Wealth sales increased 33 per cent over the third quarter (the same increase seen in the same period 2012) to £3,740m . Emerging markets grew by eight per cent to £2,766m - a fraction below the nine per cent rise seen in 2012.