In a trend that’s either disturbing or encouraging (or both), another big hedge fund says assets and profits are up, even though performance is down.

The Man Group—the world’s largest publicly-listed hedge fund—said that its flagship $18.5 billion AHL Diversified Program lost 4.8% in the fiscal year ending on March 31, driving performance fee income down 20%. But overall income soared 27%, driven by a 24% jump in assets under management, to $61.7 billion, and a consequent 34% rise in management fee income.

Total sales rose 75%, according to the firm, and it said it continues to attract massive amounts of new money, with some $3.5 billion pouring in over the past two months.

As for performance, Man made no promises. “It’s been a difficult year for trend followers, and therefore for AHL,” firm Chairman Harvey McGrath said in a conference call. Man said the group’s performance was badly hit by the market correction earlier this year.