Wednesday, 17 December 2014
Last updated 10 hours ago
Aug 2 2013 | 11:14am ET
The Man Group's assets under management continued to fall in the second quarter, as poor performance and redemptions continued to take their toll. But the firm did enjoy higher profits driven by strong performance at its GLG Partners unit.
Man's adjusted pretax profit rose 9.8% to $134 million. Performance fee income more than tripled, hitting $90 million, nearly two-thirds of which came from GLG. Man's flagship AHL strategy continued to struggle, falling 7% during the second quarter.
The firm's assets under management fell 9% on the quarter to $52 billion.
"While the first quarter of the year benefited from a more stable environment in financial markets, the second quarter was characterized by renewed volatility," CEO Emmanuel Roman said. "Trading conditions remain tough and we do not see any improvement in the near-term outlook."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.