LETTER: Old Mutual fails at its primary purpose
Even if the value of Quilter shares is added, compound growth in value has been abysmal
06 September 2020 - 22:05
The only good thing about the Old Mutual’s half-year results is that they took only 62 days to prepare and publish (“Old Mutual swings into a loss amid Covid-19 hit” (https://www.businesslive.co.za/bd/companies/financial-services/2020-09-01-old-mutual-swings-into-a-loss-amid-covid-19-hit/), September 1). 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:..
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