Man Group has reported funds under management (FUM) of USD114.1 billion at 30 September 2018, a slight increase on the USD113.7 billion under management at 30 June 2018.
Net inflows in the quarter totalled USD0.4 billion, notwithstanding the previously announced USD2.2 billion infrastructure mandate redemption. The company saw a positive investment movement of USD0.9 billion in the quarter, but negative FX movements of USD0.7 billion over the same period, plus other negative movements of USD0.2 billion.
Markel Corporation (Markel) meanwhile, has entered into a definitive agreement to acquire Nephila Holdings Limited (Nephila), with the sale of Man Group’s 18.5 per cent management fee only profit interest in Nephila to generate net proceeds of around USD130 million
Luke Ellis (pictured), Chief Executive Officer of Man Group, says: “Funds under management were slightly up in the quarter with net inflows of USD0.4 billion, despite the previously announced USD2.2 billion infrastructure mandate redemption. Positive investment movements offset negative FX and other movements.”
“We saw continuing inflows into our alternative risk premia strategies and strong flows into our systematic equity strategies. Investment performance in the quarter was mixed with strong absolute and relative performance in our momentum and discretionary long only strategies but weaker relative performance in our discretionary alternative and systematic equity strategies.”
“Looking forward, Man Group is well positioned, with strong fundamentals, and we remain focused on enhancing our technology platform and continuing to develop innovative strategies for our clients.”
