Old Mutual’s funds under management were £289.3 billion (US$443.7 billion) for the first half of 2013, an increase of 9% compared to £265.5 billion (US$406.2 billion) for the same period previous year.
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The group has reported pre-tax adjusted operating profit of £801 million in the first six months of 2013, an increase of 14% compared to £701 million for the corresponding period last year. Gross wealth sales were up by 26% to £6.7 billion, compared to £5.4 billion.
Gross sales for emerging markets grew 17% to £5.35 billion. Sales growth in Latin America & Asia and Corporate in South Africa were particularly strong, with further support from Retail Affluent. Gross sales in Old Mutual Wealth were £6.74 billion, led by UK platform and Old Mutual Global Investors inflows.
Julian Roberts, group CEO of Old Mutual, said: "This has been another good six months for Old Mutual, with our emerging markets business in particular performing very well.
"Our US asset management business had a very strong half, substantially contributing to our positive net client cash flows which represented 7% of opening funds under management on an annualised basis.
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By GlobalData"Additionally, we have taken significant steps in our plans to expand into the African markets that we have identified as key to our success, and we have continued to grow our wealth business."
