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Old Mutual Reports Drop In U.S. Fund Assets

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NU Online News Service, Jan. 28, 11:29 a.m. – Old Mutual P.L.C., London, says investors put $5.1 billion more into its U.S. mutual funds in 2002 than they took out.

But total U.S. fund assets fell 9%, to $127 billion at the end of the year, because of a combination of the investment market slump and the sale of units that manage $14 billion in assets, Old Mutual says.