Man’s Assets, Performance Rise In 2nd Quarter

Jul 12 2007 | 11:55am ET

The Man Group’s assets under management rose by 8.6% in the second quarter to $67 billion by the end of June, in spite of rocky first-quarter performance in several of its funds.

The London-based firm, the world’s largest publicly-listed hedge fund manager, said most of the increase was due to the performance of its funds: Following a tough first quarter, its flagship AHL strategy returned 15% in the second, while Man Global Strategies added 8%. The firm took in $3.8 billion in new sales against $2.3 billion in redemptions.

“The board remains very confident of the group’s prospects for the year,” Man Chairman Harvey McGrath said in a statement.

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