Fri, 15/04/2016 - 16:18
Man Group has reported funds under management (FUM) of USD78.6 billion as at 31 March 2016, down slightly from the company’s 31 December total of USD78.7 billion.
Net inflows in the quarter totaled USD0.5 billion, comprising sales of USD5.1 billion and redemptions of USD4.6 billion.
Net inflows across quant alternative (USD1.3 billion) and for quant long only strategies (USD0.4 billion), were partially offset by net outflows from discretionary alternative (USD0.6 billion), discretionary long only (USD0.5 billion), and guaranteed products (USD0.1 billion).
Net flows for fund of fund alternatives remained flat for the quarter, while overall investment movement in the quarter was negative USD0.7 billion.
Positive investment performance across AHL’s range of strategies added USD0.8 billion to FUM, was more than offset by negative investment performance for GLG, mainly across their long only strategies, reducing FUM by USD1.5 billion.
Investment performance for Numeric and FRM, meanwhile, remained broadly flat for the quarter.
FX movements of positive USD0.8 billion in the quarter, primarily driven by the weakening of the US Dollar against the Japanese Yen and Euro. The company also saw other negative movements of USD0.7 billion in relation to negative investment exposure adjustments (USD0.4 billion) and CLO and guaranteed product maturities (USD0.3 billion).
Manny Roman (pictured), Chief Executive Officer of Man, says: “Against the backdrop of challenging market conditions for the global investment management industry, we have delivered results for the first three months of the year that demonstrate the value and benefits of a diversified business model. Investment performance across our quantitative strategies and net inflows meant that group funds under management remained stable over a highly volatile quarter.
“The ongoing uncertainty in the markets remains challenging and, accordingly, the risk appetite of our clients has the potential to impact flows. However, the ongoing diversification of our business has enhanced our resilience as a firm, and positions us well to navigate the current economic climate. As we have previously indicated, we continue to explore new options for growth, both organically and by acquisition, within our disciplined financial framework.”
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