Old Mutual Continues to Trade in Line With Expectations
30 Abril 2018 - 2:10AM
Noticias Dow Jones
By Dimitrios Kontos
Old Mutual PLC (OML.LN) said Monday that it continues to trade
in line with its expectations and that continuing operations have
started the year on a positive note.
The financial services company said its investment returns
reflect the impact of lower-equity markets in South Africa and
particularly in Zimbabwe, and that it remains focused on tightly
managing its cost base.
The company's wealth-management subsidiary, Quilter PLC, had
assets under management of 111.60 billion pounds ($153.75 billion)
for the first quarter, a decline of 2% from the previous
period.
However the negative market movements were partially offset by a
14% rise in net client cash-flow to GBP1.60 billion, Old Mutual
said.
The company said that Nedbank Group Ltd.'s (NED.JO) performance
for the three months ended March 31 has met management's
expectations.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
April 30, 2018 02:55 ET (06:55 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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