Monday, 24 October 2016
Last updated 2 days ago
May 6 2010 | 1:51pm ET
GLG Partners halved its first-quarter loss as its assets under management soared 69%.
The London-based, New York-listed fund said it lost $60.8 million in the first quarter, down from $120.9 million a year earlier.
GLG’s assets under management rose to $23.67 billion, in part from $954 million in net inflows. Management fees rose 24% year-on-year, while performance fees plummeted 75%.
The firm’s revenue rose 3.9% to $53.7 million.