Man Group, the world’s largest publicly listed hedge fund firm, posted record assets under management (AUM) of $193.3bn at the end of June, buoyed by its strongest-ever quarterly inflows, even as some of its core alternative strategies underperformed, according to a report by Bloomberg.
The report cites the firm’s latest earnings statement as revealing that it attracted $14bn in net inflows in Q2 2025, bringing first-half inflows to $17.6bn. The bumper haul was powered by a $13.2bn mandate from a single client into a systematic long-only strategy.
“We enter the second half of the year with strong momentum,” said CEO Robyn Grew, who has led a series of structural reforms at the firm, including a senior leadership reshuffle and a second round of job cuts in under 12 months.
Despite the rebound in flows, core pre-tax profits fell to $146m, down from $257m in the same period last year, primarily due to lower performance fees.
Not all parts of the business fared well. The firm’s alternative strategies saw $3.5bn in outflows during the quarter. Key quantitative hedge funds struggled in 2025, with flagship programs such as AHL Alpha (-7.5%), AHL Dimension (-9.1%), and AHL Evolution (-12.3%) all posting losses year-to-date through 28 July. In contrast, Man Strategies 1783, the firm’s multi-strategy fund, gained approximately 4% during the same period.
Despite the strong inflow narrative, Man Group shares are down 18% year-to-date, reflecting broader investor caution toward trend-following and systematic hedge funds.
