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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."

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