Even if the value of Quilter shares is added, compound growth in value has been abysmal
The only good thing about the Old Mutual’s half-year results is that they took only 62 days to prepare and publish . The worst aspect of the report is the codswallop written as a “strategic update”.
The company has become so old that it has forgotten its main purpose, which is to look after the money invested with it by policyholders. Its strategic pillars are declared as:Five years after demutualisation Edward West suggested that 2004 was going to be an for the organisation and asked the question, “how many bad years can one have in a row beforeIn 1999 policyholders received shares at R11.75. These shares now trade at about R12.
Is there not a clever accountant out there who can take this company back to a future that protects and rewards policyholders?JOIN THE DISCUSSION: Send us an e-mail with your comments. Letters of more than 300 words will be edited for length. Send your letter by e-mail to
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