Man Group plc (EMG.L) in its interim management statement for the third quarter reported funds under management at 31 December 2009 of $42.4 billion compared to $44.0 billion at 30 September. Reduction of funds under management in the quarter was principally due to AHL negative investment movement of $1.2 billion, reflecting difficult trading conditions for managed futures strategies particularly in December.
Private investor sales were $1.1 billion, in keeping with the seasonally quieter financial third quarters experienced in recent years. The third quarter saw an institutional net outflow of $1.0 billion.
With a promising outlook for hedge fund flows and significant recent progress in its managed account business, Man remains very well placed to grow assets.
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