Against a challenging market backdrop, FUM at Man Group grew 8 per cent in 2015 to USD78.7 billion, driven by a positive investment performance of USD2.4 billion, a second year of positive net inflows (USD0.3 billion) and acquisitions.
Adjusted profit before tax of USD400 million was in line with analyst expectations. This follows a very strong 2014 which saw exceptional performance at AHL in 2014 (all four of AHL’s flagship funds were in the top 25 of Bloomberg’s 100 top performing hedge funds for the year).
The company’s commitment to diversification continued with the appointment of several high-calibre investment managers and the successful integration of businesses acquired in 2014 and 2015.
Man Group believes it has starts 2016 well positioned to be a consolidator within the asset management industry. The cimpany’s board is confident there is sufficient probability of finding attractive acquisitions to execute this year, and as a result has decided to retain all of the business’ surplus capital.
Manny Roman (pictured), Chief Executive Officer of Man Group, says: “Against a backdrop of challenging market conditions, 2015 was another year of good progress for Man Group. We have delivered against our strategic objectives, continuing to enhance our investment capabilities through the successful integration of three acquisitions that completed in the first half of the year and the appointment of some high calibre investment managers to the firm. FUM increased by 8 per cent driven by acquisitions and flows were slightly positive in the year with net inflows of USD2.9 billion in the second half.
“Looking forward, the on-going volatility in the markets in which we operate remains very challenging and, accordingly, the risk appetite of our clients might impact flows. However, we now have a more diversified offering and a range of attractive options for growth, which have strengthened the firm and enhanced our resilience as a business.”
