Old Mutual

Interim Results – Life APE sales increased 1%. Gross flows increased by 17%, mainly due to strong flows in Old Mutual Investments, driven by higher inflows into various products. Net client cash outflows were R7.3bn, worse than the prior period, primarily due to outflows in Personal Finance, Wealth Management, and Old Mutual Investments. The value of new business margin increased to 2.6%. Funds under management rose 6% to R1.3 trillion, thanks to the stock market.
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