OLD MUTUAL PLC - OM Asset Management Third Quarter Results

OM Asset Management Third Quarter Results

       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL


       Ref 747/15
       4 November 2015



       OM ASSET MANAGEMENT THIRD QUARTER RESULTS

       OM Asset Management plc (OMAM), the majority-owned subsidiary of Old Mutual plc, today reports
       its results for the third quarter ended September 30, 2015.
       The following is an extract from the OMAM announcement and the full announcement is available via
       the OMAM website – http://ir.omam.com/investor-relations/news/


       “OMAM Reports Financial and Operating Results for the Third Quarter Ended September 30,
       2015

       -   Economic net income of $37.9 million ($0.31 per share) for the quarter, up 0.8% compared to the
           2014 period
       -   Year to date economic net income of $113.2 million ($0.94 per share) excluding extraordinary
           performance fee, and $124.6 million ($1.03 per share) including extraordinary performance fee,
           up 8.5% and 19.5% respectively, compared to the 2014 period
       -   U.S. GAAP earnings of $35.0 million ($0.29 per share) for the quarter and $118.6 million ($0.98
           per share) for the year to date
       -   AUM of $208.7 billion at September 30, 2015, a decrease of (2.4)% from September 30, 2014
       -   Net client cash flows ("NCCF") for the quarter of $(2.5) billion yielding a positive annualized
           revenue impact of $0.7 million

       London - November 4, 2015 - OM Asset Management plc (NYSE: OMAM) reports its results for the
       third quarter ended September 30, 2015.


       “Our business performed well in a difficult environment during the third quarter,” said Peter L. Bain,
       OMAM’s President and Chief Executive Officer. “Our Affiliates are among the industry’s leaders in
       their respective investment disciplines, with long-term track records of excellent investment
       performance generated by adherence to their investment disciplines over market cycles. They
       continue to produce strong results, with assets representing 68%, 84%, and 93% of revenue
       outperforming benchmarks over the one-, three-, and five-year periods as of September 30, 2015. We
       also continue to benefit from growth in higher-fee, in-demand products such as alternative and
       global/non-U.S. strategies as we generated positive annualized revenue of $0.7 million from net client
       cash flows during the quarter notwithstanding net AUM flows of $(2.5) billion. Our year-to-date
       annualized revenue of $25.5 million from net flows represents 3.5% of beginning of year run-rate
       management fee revenue."


       Mr. Bain continued, “We continue to make progress in executing our growth strategy. We are working
       with a number of Affiliates to undertake business expansion and product development initiatives. In a
       volatile market environment, our Global Distribution team remains focused on strengthening its
       relationships with consultants and institutional investors across the globe and working with Affiliates to
       expand the product offerings available through our platform. In addition, we remain actively engaged
       in cultivating relationships with attractive, at-scale asset management boutiques seeking to enhance
       and expand their businesses for the long-term in partnership with us.


       “With the passage of our first anniversary as a public company and the subsequent filing of a shelf
       registration statement relating to $2.0 billion of debt securities and ordinary shares, we are well
       positioned to access the capital markets over time to support the growth of our business,” Mr. Bain
       added. “Finally, we would like to express our gratitude to Julian Roberts, who recently retired as CEO
       of Old Mutual plc and as Chairman of OMAM’s Board of Directors. His personal warmth, insight and
       leadership during his tenure at Old Mutual and on our Board have been vital to our growth and have
       positioned OMAM for success in the years ahead. I am pleased that our long-term director, Jim
       Ritchie, has agreed to serve as our new Chairman. Jim has been a member of our Board since 2007,
       and has chaired the Board’s Audit Committee and served on its Nominating and Corporate
       Governance Committee. Jim brings deep experience in financial services and a strong commitment to
       the effective governance and growth of our business and we look forward to his future contributions in
       his new role.”


       OMAM will hold a conference call and simultaneous webcast to discuss the results at 10am EST /
       3pm GMT. To listen to the call or view the webcast, participants should:

       Dial-in
       Toll Free Dial-in Number: (866) 393?4306
       International Dial?in Number: +1 734 385?2616
       Conference ID: 64955127

       Link to webcast (register ahead of time or join immediately prior to the call):
       http://event.on24.com/r.htm?e=1080875&s=1&k=BC0F0976768FA970C91A82A91D02A3EC
       A replay of the call will be available beginning approximately one hour after its conclusion either on
       OMAM’s website, at http://ir.omam.com or by:

       Dial-in Replay
       Toll Free Dial-in Number: (855) 859?2056
       International Dial?in Number: +1 404 537?3406
       Conference ID: 64955127

       Enquiries
       External communications
       Patrick Bowes                    UK       +44 20 7002 7440

       Investor relations
       Dominic Lagan                    UK       +44 20 7002 7190
       Sizwe Ndlovu                     SA       +27 11 217 1163

       Media
       William Baldwin-Charles                   +44 20 7002 7133
                                                 +44 7834 524833



       Sponsor:
       Merrill Lynch South Africa (Pty) Ltd


       Joint Sponsor:
       Nedbank Capital


       Notes to Editors
       Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in
       Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the
       London and Johannesburg Stock Exchanges, among others, since 1999.
       In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on
       an IFRS basis) and had £319 billion of funds under management from core operations.
       For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com

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