Man Group Reports Outflows For Fifth Straight Quarter

Oct 18 2012 | 8:33am ET

The Man Group has posted outflows for the fifth consecutive quarter, although its assets under management are up, thanks to the recent acquisition of the fund of funds firm FRM.

Man saw net outflows of $2.2 billion in Q3 2012, an increase over the first quarter it said was concentrated in lower-margin products.

Its AUM was up 14% over the three months to September 30, and now stands at $60 billion.

Peter Clarke, chief executive of Man, said: “Man’s funds under management increased in the quarter, driven by the acquisition of FRM which completed in July. This transaction has created the largest non-US based hedge fund of funds business and I am pleased to say that integration has progressed quickly and efficiently with positive feedback from clients.”

He added that the challenging environment for capital raising continues, and redemptions were a result of “subdued” investor sentiment.

“Against this backdrop, our focus remains on delivering performance for our investors and improving efficiency. We continue to attract high quality talent from the industry to bolster existing investment teams and to launch new product lines. We remain on track to deliver the cost savings announced in H1.”


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of