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Man Group Q3 Funds Under Management Down - Quick Facts

Man Group Plc (MNGPF.PK,MNGPY.PK,EMG.L) reported Friday that its third-quarter funds under management or FUM declined to $112.7 billion from $114.1 billion last year.

Sequentially, FUM declined from $114.4 billion in the preceding second quarter.

According to the company, the decline in FUM reflected net outflows of $1.1 billion and negative FX and other movements of $1.3 billion, partially offset by positive investment movement of $0.7 billion.

Net outflows comprised sales of $6.6 billion and redemptions of $7.7 billion.

The company further announced its intention to repurchase up to $100 million of shares. The company would also continue to review further potential acquisition opportunities

Luke Ellis, Chief Executive Officer, said, "In the third quarter, we saw a continuation of the trends experienced in the first half of the year with strong absolute performance and inflows into our quant alternative strategies, and outflows from our long only equity strategies. FX moves were negative in the quarter, which led to an overall dip in FUM to $112.7 billion, but year to date assets are up 4%."

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