Plus   Neg

Man Group Q3 FUM Rises Sequentially - Quick Facts

Man Group plc (MNGPF.PK,MNGPY.PK,EMG.L) reported Friday that its third-quarter funds under management or FUM was $113.1 billion as of September 30, a growth of 4 percent from preceding second quarter's $108.3 billion.

The company said the growth was driven by net inflows of $1.7 billion primarily from alternative strategies as redemption levels normalised following COVID-19 related rebalancing in the previous quarter.

Positive investment performance of $1.7 billion was largely from its long-only strategies, and positive FX and other movements of $1.4 billion resulted from a weaker US dollar particularly against sterling and the euro.

Alternative FUM grew to $72.4 billion from $69.4 billion in the second quarter.

Luke Ellis, Chief Executive Officer of Man Group, said, "This was driven by robust net inflows into alternatives as anticipated, as well as performance gains across both alternative and long-only strategies. Engagement with clients remains good, although there is increasing uncertainty due to upcoming political events and current COVID-19 trends."

Further, the company said its $100 million share buyback programme announced in September is proceeding at the maximum permitted pace.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Data giant S&P Global Inc. has agreed to acquire information and analytics company IHS Markit Ltd. in an all-stock deal, the two companies said Monday. The deal values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt. Shares of IHS Markit are gaining almost 6 percent following the news. The deal is the biggest in 2020. Moderna, Inc. (MRNA) said it will apply for an Emergency Use approval of its Covid vaccine as the latest study showed that the vaccine candidate is 94.1% effective to prevent Covid-19. The company said there have been no serious safety concerns identified. The company will file for an Emergency... Vegpro International is recalling Fresh Attitude baby spinach citing potential to be contaminated with Salmonella, according to the U.S. Food and Drug Administration. The recall involves Fresh Attitude baby spinach of 5oz with best before dates of December 4 & 5; and 11oz with best before date of December 4.
Follow RTT