The group reported profits of £195m, of which £94m was accounted for by the UK-based business. The group includes Skandia and the recently created Old Mutual Global Investors, a merger of Old Mutual Asset Managers and Skandia Investment Group.
Overall assets grew to £69.2bn, a 10% increase on the figure for the previous year. Assets on the UK platform increased 20% to £22.6bn. The group attributes asset growth to positive net client cash flows (£2 bn) and higher equity markets at the end of the year.
The newly-created Old Mutual Global Investors recorded gross sales of £4.8bn during the year, which increased its funds under management by 13% to £13.8bn.
