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Man Group Q1 FUM Rises - Quick Facts

Man Group plc (MNGPF.PK,MNGPY.PK,EMG.L) reported Thursday that first-quarter funds under management or FUM increased 4% to $112.3 billion.

The growth in FUM was driven by positive investment movement of $4.5 billion partially offset by net outflows of $0.7 billion in the quarter comprising sales of $7.9 billion and redemptions of $8.6 billion.

In its trading update, the company said it completed around $65 million of the $100 million share repurchase programme announced in October 2018 equating to around 36 million shares at an average price of 140 pence per share.

Further, the proposed change to corporate structure remains on track with necessary approvals now received from regulators and approvals from shareholders to be sought in May 2019.

Luke Ellis, Chief Executive Officer, said, "While we expect clients to continue adjusting their portfolio allocations during the second quarter, we see ongoing engagement with clients on new mandates and, in particular, continuing strong demand for our total return strategies."

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