Old Mutual's Feeney: Pension reforms are 'shot of adrenaline' for financial services


Old Mutual Wealth's CEO has said the government's pension reforms have been like a 'shot of adrenaline' for the financial services sector, as the group reports strong sales of pension products in Q1.

Old Mutual Wealth reported gross sales increased by 16% to £4.6bn in Q1 2015, boosted by sales of pension products and flows from newly acquired Quilter Cheviot. Net client cash flow during the quarter was £1bn, 9% lower than prior year.   Funds under management stood at £102.3bn at the end of the quarter, boosted by the Quilter deal, which completed during the period and added £17.5bn. Excluding acquisitions and disposals, funds under management increased 5% from the year end due to positive net client flows and strong market performance.   Net client cash flows on the UK Platfor...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Investment

Only one IPO on AIM in Q2 2022

UK AIM IPOs fall to lowest levels since 2009

Worst quarter since financial crisis

clock 29 June 2022 • 3 min read
Doug Abbott of Schroders Asset Management

Schroders: The cost of living crisis is forcing investors to change their investment plans

57% of clients were bearish

clock 21 June 2022 • 2 min read
Nigel Bolton of BlackRock Fundamental Equities

BlackRock's Nigel Bolton is betting on banks despite recession worries

Cautious on tech and consumer stocks

clock 20 June 2022 • 3 min read