Man Group has reported what it describes as strong performance for the first quarter of 2017 with funds under management (FUM) totalling USD88.7 billion at 31 March 2017, up from USD80.9 billion at the end of December 2016.
Net inflows in the quarter totalled USD3.0 billion, driven by strong inflows into discretionary long only and fund of fund alternatives, while the company also saw positive investment movement of USD2.2 billion in the quarter.
Positive FX movements of USD0.8 billion in the first three months of the year quarter were driven primarily by the weakening of the US Dollar against the Japanese Yen, Australian Dollar, and Euro.
Man Group completed the acquisition of Aalto on 1 January 2017, which added an additional USD1.8 billion of FUM.
Luke Ellis (pictured), chief executive officer of Man Group, says: “The first quarter of 2017 has been a strong period for Man Group, with funds under management increasing by 10 per cent to USD88.7 billion and growth in each of our investment engines. We came into the year with a good pipeline of interest from clients, and that has resulted in net inflows of USD3.0 billion in the first three months. Investment performance increased FUM by USD2.2 billion for the quarter and the completion of the Aalto acquisition added a further USD1.8 billion.
“Looking forward, the global environment has the potential to create alpha opportunities and we see continuing near-term interest from clients. However, it is important to recognise that this is only one quarter and, as we have said before, flows are likely to vary on a quarterly basis given the institutional nature of our business.”
