Richard Buxton-led Old Mutual Global Investors registered year-to-date net inflows of £2bn, up 43% compared to the same period last year, while funds under management for this division is up 6% since the start of the year at £22.2bn.
The firm said 52% of its core funds were top quartile over a three-year period and a total of 71% of funds above the median.
The group highlighted Ian Heslop’s Global Equity Absolute Return fund with year-to-date net inflows of £1.2bn, while Buxton’s UK Alpha fund and Richard Watts UK Mid Cap fund attracted year-to-date net inflows of £0.6bn and £0.2bn respectively.
The recruitment of the Russ Oxley-led Old Mutual Global Investors’ Rates and Liability Driven Investment team from Ignis was another highlight – the Old Mutual Absolute Return Government Bond and Liquid Macro funds were launched on 7 October.
September saw the formation of Old Mutual Wealth Investment Division, comprising Old Mutual Global Investors and discretionary business Quilter Cheviot.
The acquisition of the latter was completed in February, and has since generated net inflows of £0.7bn with funds under management at £17bn.
On 2 October, financial advice arm Intrinsic announced the launch of a new national advice business, Old Mutual Wealth Private Client Advisers.
The group said 193 restricted financial planners joined the Intrinsic network during the third quarter as part of Intrinsic’s agreement with Sesame Bankhall Group to become its preferred adviser network partner.
Old Mutual Wealth chief executive Paul Feeney said: “I believe that these results demonstrate that we are building a new breed of wealth management business with clients’ needs at the centre.
“We have created a unique proposition encompassing multi-channel advice, high-quality investment and retirement solutions and end-to-end service enabled by our UK and international platforms.”
