The firm, which operates discretionary manager Quilter Cheviot, the Intrinsic platform and Old Mutual Global Investors (OMGI), delivered net client cash flows of £2.7bn compared to £1.7bn in the first quarter of 2016.
The higher net sales came amid gross sales of £7.2bn, which were 44% higher than the £5bn figure seen last year.
Funds under management at OMGI were £34.6bn by the end of the first quarter, while Quilter Cheviot reached £21.8bn and the Intrinsic platform reached £44bn.
South African financial services group Old Mutual is undergoing a ‘managed separation’ and has signalled it is likely to separate Old Mutual Wealth in a stockmarket IPO.
Paul Feeney, CEO of Old Mutual Wealth, said the high flows show that “advisers and customers are increasingly recognising the strength of our model and that we are offering investment solutions that meet their needs”.
“We have the right solutions for these uncertain times, particularly our multi-asset, absolute return and high alpha product ranges,” he said.
“While we are hopeful that this momentum will continue throughout 2017, we expect that markets will remain volatile and challenging in the medium-term, particularly until both the outcome of the upcoming general election and greater details on the terms of the UK’s exit from the EU are known.”
