FY Results – Old Mutual reported that sales maintained momentum in retail segments, and market share was regained in the Mass and Foundation Cluster and Personal Finance. Life APE sales grew by 10%, and the value of new business grew by 16% partly thanks Old Mutual Corporate. Gross flows decreased by 9%, resulting in negative net client cash flow due to disinvestments and terminations in Wealth Management and Old Mutual Investments. The Group reported increased profits thanks to strong sales and operational performance, with a Group return on net asset value of 11.1%. Old Mutual announced a dividend of 76 cents per share.
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