Old Mutual Asset Management, a Boston subsidiary of London's Old Mutual PLC, said the assets under management by the unit's 20 boutique firms fell 5%, to $316.8 billion, in the first quarter.
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The company said Thursday that its boutique firms, which include asset managers specializing in active asset management and the Old Mutual Asset Management Trust Co., had $2.6 billion of cash inflows during the first three months of this year but that the inflows were offset by falling markets.
