Funds under management rise at Old Mutual

Emerging markets shone in the third quarter at finance house Old Mutual as the group continued its transition away from selling traditional life assurance products to unit trusts.

Emerging markets shone in the third quarter at finance house Old Mutual as the group continued its transition away from selling traditional life assurance products to unit trusts.

Funds under management (FUM) at the end of September stood at £263.3bn versus £254.3bn at the end of June. Net client cash flow was negative during the quarter, easing by £0.5bn, but a massive improvement on the £5.4bn yanked from Old Mutual's core operations in the third quarter of 2011.

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