Affiliate Firms Drive Up Profits for Old Mutual
Old Mutual Asset Management has reported an increase in assets under management by its affiliate management shops.
A press release issued today lists the total management by investment affiliates as $260 billion as of Sept. 30. This figure represents an increase of 5.3% from the previous quarter.
According to Old Mutual’s Web site, its affiliate firms are 2100 Xenon, 300 North Capital, Acadian Asset Management, Analytic Investors, Ashfield Capital Partners, Barrow, Hanley, Mewhinney & Strauss, Copper Rock Capital Partners, Dwight Asset Management, Heitman, Investment Counselors of Maryland, Larch Lane Advisors, Lincluden Management, Old Mutual Asset Managers, Rogge Global Partners, The Campbell Group, Thompson Siegel & Walmsley and Thomson, Horstmann & Bryant.
"Old Mutual Asset Management is pleased to have enjoyed asset growth during this period of market recovery,” said Tom Turpin, President and CEO, in the statement. “We expect the economic and financial environment to remain challenging as we approach the end of the year, but are confident that our investment affiliates will continue to deliver high-quality investment solutions to clients."
Old Mutual Asset Management is based in Boston, Mass. Its parent company is financial services company Old Mutual plc, which is headquartered in London.
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