Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc says that assets under management for the group at the end of the third quarter of 2004, increased 3.1% in the quarter.
This was up from $163.4 billion on June 30, 2004, to $168.4 billion on September 30, 2004.
Net inflows of client assets contributed $3.3 billion, or 2.0% of the increase over AUM at the beginning of the period, while investment performance in the funds under management at member firms accounted for the remaining 1.1% increase for the quarter.
Overall in the first three quarters of 2004, the group's member firms in aggregate had net inflows of client assets of $8.5 billion, including $2.4 billion in cash collateral assets.
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