Old Mutual PLC saw its assets under management grow to £289.3 billion ($448.6 billion) as of June 30, up 9% from Dec. 31.
The rise in AUM was in part due to net inflows of £9.1 billion in the six months ended June 30 and investment returns of about £18 billion, according to the firm's earnings report, released Wednesday.
Meanwhile, Old Mutual Asset Management, the U.S. money management unit of Old Mutual PLC, saw its AUM for continuing operations grow to $229.8 billion, up 10% from the end of 2012. OMAM's rise in AUM was due to net inflows of $10.6 billion and market appreciation.
“This has been another good six months for Old Mutual,” said Old Mutual Group CEO Julian Roberts in a statement. “Our U.S. asset management business had a very strong half, substantially contributing to our positive net client cash flows, which represented 7% of opening funds under management on an annualized basis.”
Old Mutual recorded an adjusted operating profit of 14%, in constant currency, to £801 million in the first six months of 2013.