Assets of the member firms of Old Mutual Asset Management reached $237.3 billion by the end of the third quarter, up $6.5 billion, or 2.8% from the second quarter.

Leading the boost in assets were strong net inflows of $9.5 billion, up 4.1% from the previous quarter. Investment returns of 3.2% brought in $7.4 billion of additional assets, the company said. This was offset by the transfer of $10.4 billion in assets from First Pacific Advisors in September.

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