Man Sees First Inflow In Two Years

Oct 17 2013 | 3:06pm ET

For the first time in more than two years, the Man Group took in more money than it paid out in redemptions, but the news was far from all good at the world's largest publicly traded hedge funds.

The third-quarter net inflows went primarily to Man's GLG Partners unit. All told, the firm took in US$4.1 billion against US$3.4 billion in outflows. Assets under management edged up US$500 million to US$52.5 billion.

GLG's fund took in US$300 million, which Man's flagship AHL program lost a further 10% of its assets during the quarter.

"Inflows were linked primarily to stronger performance in the first half of the year and were characterized by sizeable asset flows from certain customers, albeit into relatively low-margin products," CEO Emmanuel Roman, himself a former GLG executive, said. "We remain cautious in our outlook for asset flows going forward in light of continued uncertainty in the macro-economic environment."

Man also said it had taken another $90 million charge, one-third of which will go to cutting staff over the next three months.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note