Old Mutual plc
Ref 306/16
5 May 2016
OMAM Reports Financial and Operating Results for the First Quarter Ended 31 March
2016
OM Asset Management plc (OMAM), the majority-owned subsidiary of Old Mutual plc, today reports its
results for the first quarter ended 31 March 2016.
The following is an extract from the OMAM announcement and the full announcement is available via
the OMAM website - http://ir.omam.com/investor-relations/news/
"OMAM Reports Financial and Operating Results for the First Quarter Ended March 31,
2016
• Economic net income of $32.0 million ($0.27 per share) for the quarter, down
(14.2)% from the comparative quarter in 2015
• U.S. GAAP earnings of $30.8 million ($0.26 per share) for the quarter, down (9.9)%
from the comparative quarter in 2015
• AUM of $218.0 billion at March 31, 2016, an increase of 2.6% from
December 31, 2015
• Net client cash flows ("NCCF") for the quarter of $2.4 billion yielding a positive
annualized revenue impact of $7.3 million
"Our results for the quarter demonstrate the strength and diversity of our
multi-boutique franchise, as our Affiliates generated solid organic NCCF growth of $2.4 billion in a period marked by extreme
volatility and challenging macroeconomic trends," said Peter L. Bain, President and Chief Executive Officer of OMAM. "Our
financial results were impacted by a (5.3)% market-driven decline in average assets, and higher expenses as we continued to
invest in the business."
"Our business model is designed to generate growth opportunities across our existing Affiliates
through collaborative initiatives and our Global Distribution platform, and we continue to make progress in both of these
areas. Our Affiliate Management Team is working with a number of Affiliates on product expansion initiatives, and
seed-related products were meaningful contributors to our gross inflows in the first quarter. Our Global Distribution
platform had a strong quarter, and has reached profitability ahead of schedule. In addition, we remain focused on efficient
capital management and increasing shareholder value through effective capital allocation strategies. On March 15,
shareholders approved the open market component of our share repurchase program, and we commenced opportunistic repurchases of
our shares during the remainder of the quarter."
Mr. Bain concluded, "We have been active in cultivating relationships with high quality asset
management boutiques. Entrepreneurial asset managers understand and appreciate our unique approach and the value we bring
to our Affiliate partnerships, and we are pleased with the quality and breadth of firms with which we have engaged."
A conference call and simultaneous webcast to discuss the OMAM results will be held at 10:00am EST
/ 3pm BST. To listen to the call or view the webcast, participants should:
Dial-in
Toll Free Dial-in Number: (877) 201-0168
International Dial-in Number: (647) 788-4901
Conference ID: 60328973
Link to webcast (register ahead of time or join immediately prior to
the call):
http://event.on24.com/r.htm?e=1143935&s=1&k=570614F5895521929822B87E4EDB93E7
A replay of the call will be available beginning approximately one hour after its conclusion
either on OMAM's website, at http://ir.omam.com or by:
Dial-in Replay
Toll Free Dial-in Number: (855) 859-2056
International Dial-in Number: (404) 537-3406
Conference ID: 60328973
Enquiries
External communications
Patrick
Bowes
UK +44 20 7002 7440
Investor relations
Dominic
Lagan
UK +44 20 7002 7190
Sizwe
Ndlovu
SA +27 11 217 1163
Media
William Baldwin-Charles
+44 20 7002 7133
+44 7834 524833
Notes to Editors
Old Mutual provides investment, savings, insurance and banking services to 18.9 million customers
in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and
Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2015, the Group reported adjusted operating profit before tax of
£1.7 billion and had £304 billion of funds under management from core operations (excluding Rogge).
For further information on Old Mutual plc, please visit the corporate website at
www.oldmutual.com