Profits increased to £152m compared to £60m in 2016.
The results come as OMGI chief executive Richard Buxton prepares to spin-out the business for single-strategy funds from its parent in a £600m deal backed by TA Associates.
Total profits at Old Mutual Wealth were £363m compared to £260m in 2016.
Completion of the OMGI spin-out, which is still undergoing regulatory approval, is due to take place in the second half of 2018.
Old Mutual will not benefit from OMGI fees earned in 2018.
Old Mutual’s ‘very high’ inflows
Old Mutual Wealth chief executive Paul Feeney has said he is pleased with the “very high levels of net flows” for the business in 2017.
The results showed inflows at £10.9bn up 110% on the previous year’s £5.2bn, which was attributed to buoyant market conditions and robust investor confidence.
Assets under management have risen 12% from £123.5bn in the previous year’s results to £138.5bn in 2017.
“We have a strong balance sheet, a strong capital and liquidity position and we are financially independent from Old Mutual plc. We have completed our separation activities and we are ready to list as Quilter plc,” Feeney said.
“2017 was a great year for our business. 2018 will be a defining one and we are excited about the opportunities ahead.”
