Sharenet Sites 
Sharenet Sites
Trading Statement
QUILTER PLC
(previously, Old Mutual Wealth Management Limited)
Incorporated under the Companies Act 1985 with registered number 06404270 and re-registered as a
public limited company under the Companies Act 2006
ISIN CODE: GB00BDCXV269
JSE SHARE CODE: QLT
QUILTER
30 April 2018
QUILTER PLC REPORTS CONTINUED STRONG NET CLIENT CASH FLOW AND RESILIENCE IN ASSETS UNDER
MANAGEMENT AND ADMINISTRATION
Quilter plc (£ billion) Q1 2018 YTD Q1 2017 YTD % Change
Net client cash flow (NCCF)(1) 1.6 1.4 14%
Net client cash flow (NCCF), excluding Quilter Life Assurance(1) 2.0 1.5 33%
Gross sales(2) 4.4 4.2 5%
Total integrated net flows(2) 1.5 1.0 50%
Of which Quilter Financial Planning & Private Client Advisers generated 1.1 0.8 38%
31 March 2018 31 December 2017
Assets under Management/Administration (AuMA)(3) 111.6 114.4 (2)%
(1) Excludes Single Strategy NCCF of £1.4 billion Q1 2018 YTD (Q1 2017 YTD: £1.3 billion).
(2) Excludes Single Strategy.
(3) Excludes Single Strategy AuM of £27.5 billion at 31 March 2018 (31 December 2017: £26.9 billion).
Paul Feeney, CEO of Quilter plc, commented:
“First quarter net client cash flow (NCCF) has continued the strong momentum seen in 2017, particularly in our Advice
& Wealth Management Segment. We have experienced increased net flows across all our businesses with the exception
of Quilter International, which has had a slow start to the year following a very strong final quarter in 2017, and Quilter
Life Assurance.
NCCF of £1.6 billion (excluding Single Strategy) was 14% ahead of the comparable period in 2017. NCCF of £2.0 billion
(excluding Single Strategy and Quilter Life Assurance) was £0.5 billion or 33% ahead of the comparable period in 2017.
NCCF as a proportion of opening assets under management and administration (AuMA) (excluding Single Strategy and
Quilter Life Assurance) on an annualised basis was 8%, ahead of our 5% target.
Generating and growing integrated flows is a key focus as these demonstrate the strength and value of our multi-channel
business model. It is particularly pleasing that these grew by 50% to £1.5 billion in Q1 compared to 2017.
AuMA of £111.6 billion declined by 2.4% in the quarter as a result of negative market movements of 3.8% partially
offset by positive net flows in the period of 1.4%. This compares to a decrease of 8.2% in the FTSE 100 over the same
period, demonstrating the relative resilience of our business model and good investment performance during a time of
market volatility. The outlook for our business remains positive and current trading remains in line with expectations.
While there has been some recovery in market levels so far in the second quarter, we anticipate continued uncertainties
in equity, bond and currency markets in the medium term as any potential impacts of the UK’s exit from the EU evolve
and given geopolitical and economic risks.
The Single Strategy Business generated NCCF of £1.4 billion during the quarter (excluded from the table above). Good
progress is being made with regard to obtaining the necessary regulatory approvals for the sale of this business, and we
continue to expect completion in the second half of 2018.
We are delighted that the formal process of listing Quilter plc on the London and Johannesburg stock exchanges has
now commenced and we continue to be excited by the opportunities ahead for us beyond our planned listing in June.”
Selected additional data for Q1 2018 year to date:
Gross flows, net flows and AuMA (£ billion)
AuMA Gross Gross Net Market and AuMA
as at 31 inflows outflows flows Other as at 31
December movements March
2017 2018
Quilter Investors 16.9 1.6 (0.6) 1.0 (0.8) 17.1
Quilter Cheviot 23.6 0.8 (0.5) 0.3 (1.1) 22.8
Quilter Financial Planning 1.2 0.0 (0.0) 0.0 (0.0) 1.2
Advice & Wealth Management 41.7 2.4 (1.1) 1.3 (1.9) 41.1
Quilter Wealth Solutions 50.2 2.3 (1.0) 1.3 (1.8) 49.7
Quilter International 19.3 0.5 (0.4) 0.1 (0.8) 18.6
Quilter Life Assurance(1) 15.3 0.2 (0.7) (0.5) (0.4) 14.4
Wealth Platforms 84.8 3.0 (2.1) 0.9 (3.0) 82.7
Elimination of intra-group assets (12.1) (1.0) 0.4 (0.6) 0.5 (12.2)
Quilter plc 114.4 4.4 (2.8) 1.6 (4.4) 111.6
AuMA Gross Gross Net Market and AuMA
as at 31 inflows outflows flows Other as at 31
December movements March
2016 2017
Quilter Investors 12.1 1.2 (0.5) 0.7 0.3 13.1
Quilter Cheviot 20.7 0.7 (0.5) 0.2 0.9 21.8
Advice & Wealth Management 32.8 1.9 (1.0) 0.9 1.2 34.9
Quilter Wealth Solutions 41.4 2.2 (1.2) 1.0 1.6 44.0
Quilter International 16.9 0.5 (0.3) 0.2 0.4 17.5
Quilter Life Assurance(1) 15.5 0.4 (0.7) (0.3) 0.8 16.0
Wealth Platforms 73.8 3.1 (2.2) 0.9 2.8 77.5
Elimination of intra-group assets (8.4) (0.8) 0.4 (0.4) (0.3) (9.1)
Quilter plc 98.2 4.2 (2.8) 1.4 3.7 103.3
Note: All figures in the table exclude Single Strategy.
(1)Includes other shareholder assets of £0.3 billion in Q1 2018 (FY 2017: £0.2 billion, FY 2016: £0.1 billion and Q1 2017: £0.1 billion).
Business unit descriptor:
Previous New
Intrinsic Quilter Financial Planning
Old Mutual Wealth Private Client Advisers Quilter Private Client Advisers
UK Platform Quilter Wealth Solutions
International Quilter International
Heritage Quilter Life Assurance
Enquiries
Investor Relations
John-Paul Crutchley +44 20 7002 7016
Media enquiries
Quilter
Vee Montebello +44 20 7778 9550
Camarco
Geoffrey Pelham-Lane +44 20 3757 4985
Aprio (South Africa)
Julian Gwillim +27 11 880 0037
About Quilter
Quilter is a leading wealth management business in the UK and internationally, helping to create
prosperity for the generations of today and tomorrow.
On a ‘go forward basis’, Quilter oversees £ 111.6 billion in customer investments (as at 31 March
2018).
It has an adviser and customer offering spanning: financial advice; investment platforms; multi-
asset and single strategy investment solutions;and discretionary fund management.
The business is comprised of two segments: Wealth Platforms and Advice and Wealth
Management.
Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International,
including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.
Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old
Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot;
and Old Mutual Wealth’s multi-asset investment solutions business.
The Quilter businesses will be re-branded to Quilter over a period of approximately two years
following separation from Old Mutual:
- Intrinsic to Quilter Financial Planning
- Private Client Advisers to Quilter Private Client Advisers
- The Multi-Asset business to Quilter Investors
- The UK Platform to Quilter Wealth Solutions
- The International business to become Quilter International
- The Heritage life assurance business to Quilter Life Assurance
- Quilter Cheviot will retain its name.
On 19 December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy
asset management business to the Single Strategy Management team and funds managed by TA
Associates. The proposed transaction is subject to customary closing conditions, including
regulatory approvals.
Quilter is part of Old Mutual plc, a FTSE 100 group that provides investment, savings, insurance
and banking. For the year ended 31 December 2017, Old Mutual reported an adjusted operating
profit before tax of £2.0 billion. For further information on Old Mutual plc and the underlying
businesses, please visit the corporate website at www.oldmutualplc.com.
JSE Sponsor
Merrill Lynch South Africa (Pty) Ltd
Date: 30/04/2018 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
