Old Mutual Wealth, comprising Skandia and Old Mutual Global
Investors, said today that its assets under management stood at £74.5 billion ($115.8
billion) at 31 March, rising from £69.2 billion at the start of 2013.

Growth was driven by net inflows of £410 million and positive
market movements.  Gross sales during the
quarter were up 19 per cent on the same period last year to £3.1 billion, the
London-listed firm said.

The Skandia International business had a strong quarter with
net inflows of £134 million, compared to a £12 million net inflow in Q1 2012,
contributing to an increase in assets under management of 6 per cent to £14.8 billion.  Gross sales were up 15 per cent to £449 million.
The new Wealth Interactive service has been introduced with new products in Singapore and the UK, and is expected to launch in
other regions later this year, the firm said in a statement.

Old Mutual Global Investors recorded gross sales of £1.5
billion, up 68 per cent on the same quarter a year ago.  Sales were helped by positive markets and a
major sales and marketing campaign and, significantly, included OMAM (UK) sales
for the first time and the transfer of assets into the new "Select" funds that
were launched during the quarter.

As has been recently reported, OMGI has strengthened its UK equity
capability during the period with the hires of Richard Buxton, Errol Francis,
Ed Meier and Rob James, who join the company in June 2013.

The Skandia UK platform saw net inflows of £498 million
during the quarter, which contributed to a 9 per cent increase in funds under
management to £24.7 billion.