Tuesday, 30 August 2016
Last updated 5 hours ago
May 9 2014 | 11:35am ET
The Man Group took in US$2 billion in new money in the first quarter, but still remains cautious about its future.
Investors added US$6.5 billion to Man’s funds, primarily those in its GLG Partners unit, while redeeming US$4.5 billion. The firm’s total assets rose 1.7% to US$55 billion after the net inflow was eroded by US$700 million in performance losses on the quarter.
CEO Emmanuel Roman noted that March was a “very difficult” month for the hedge fund industry as a whole, and that, in spite of the gains, the firm is still uncertain about what the rest of the year will bring.
“Whilst we are pleased to have recorded a solid quarter of net inflows, we remain cautious in our outlook for asset flows for the rest of the year given mixed absolute investment performance,” he said.