Old Mutual of London has announced the formation of Old Mutual Asset Managers (US), an aligned group of six asset management firms which were affiliates of United Asset Management when it was acquired by Old Mutual in September.

Old Mutual Asset Managers (US), which began operating Jan. 1, is one of three units Old Mutual has created out of the over 40 UAM affiliates, and will constitute the basis for Old Mutual's asset management platform, according to a spokesperson for Old Mutual. The other units are Pilgrim Baxter, which manages the PBHG funds and will stand alone, and UAM Affiliates, which is comprised of the remaining affiliates, the spokesperson said. Some of those remaining affiliates may join Old Mutual Asset Managers (US) over time, according to the announcement.

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