Oct 11 Old Mutual Plc
* Old mutual plc - capital markets day
* Intend to continue with phased reduction of our 66% holding in omam in an orderly manner while supporting development of its strategy
* Omw has announced that for three months ended 30 september 2016, it recorded net client cash flow of £0.9 billion (q3 2015: £2.3 billion)
* Through asset disposals and use of old mutual's surplus cash, we intend to materially reduce old mutual's holding company debt
* Omw had funds under management of £119 billion (fy 2015: £104 billion) for 3 mths ended sept 30
* Old mutual - currently estimated at £5 million to £10 million per annum; and one-off costs of between £50-£65 million for winding down head office and its activities in london.
* Corporate costs in 2016 are expected to be in line with 2015
* For omw, managed separation costs and business stand-alone costs in second half of 2016 are expected to be approximately £10 million
* Total cost to complete re-platforming of it business platform will be in range of £425 million to £450 million, excluding any further spend on heritage Source text for Eikon: Further company coverage:
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