logo
Plus   Neg
Share
Email

Man Group Q1 Funds Under Management Rises; Sees Increased Inflows In Coming Quarters

Man Group plc (MNGPF.PK,MNGPY.PK,EMG.L) Friday reported that its first-quarter funds under management or FUM was $127.0 billion as of March 31, higher than $104.2 billion last year.

Sequentially, FUM increased 3 percent from $123.6 billion as of December 31, 2020.

The growth was driven by net inflows of $0.6 billion primarily from alternative strategies and positive investment performance of $3.5 billion.

Negative FX and other movements of $0.7 billion resulted from a stronger US dollar particularly against the euro and the yen.

Alternative FUM increased by $1.2 billion in the first quarter. Long-only FUM increased by $2.2 billion supported by strong absolute performance.

As of March 31, the company completed $49 million of the $100 million share buyback announced in September 2020.

Luke Ellis, Chief Executive Officer of Man Group, said, "Client engagement on a number of larger mandates has been positive this year, and as a result we expect to see increased inflows in the coming quarters. In the long term, it is our state-of-the-art technology and the strength of our client relationships combined with the quality of our people that define our firm and give me great confidence for the future."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walt Disney World, the Orlando, Florida-based entertainment complex, is easing the health safety guidelines that were rolled out to prevent the spread of the ongoing COVID-19 pandemic. The complex is ending temperature checks in a phased manner following the advice of the Centers for Disease Control and Prevention (CDC) and local health officials. Frito-Lay North America, the convenient foods division of food and beverages giant PepsiCo, Inc., is recalling select Ruffles All Dressed Potato Chips citing the possible presence of undeclared milk ingredients, a known allergen, the U.S. Food and Drug Administration said. According to the agency, the recalled products may have distributed regionally to Walmart's Sam's Club Warehouses. Pfizer Inc. (PFE) and BioNTech SE (BNTX) announced Friday that they have initiated the Biologics License Application (BLA) process with the U.S. Food and Drug Administration (FDA) for approval of their mRNA vaccine to prevent COVID-19 in individuals 16 years of age and older. The companies initiated...
Follow RTT