Man Assets Rise On Acquisitions, Inflows

Oct 16 2014 | 9:27am ET

The Man Group continued to add assets in the third quarter, primarily due to acquisitions but also bolstered by a fifth-straight quarter of net inflows.

Man said its assets under management rose 25% to US$72.3 billion in the three months to September. Most of the gain, some US$16.2 billion's worth, was due to the firm’s purchases of Numeric Investors and Pine Grove Asset Management. But the world’s largest listed hedge fund manager also surprised with a US$400 million net inflow; analysts had expected Man’s year-long inflow streak to end with an outflow.

Man said the inflow was due to a large investment by an Asia-Pacific institutional investor in its flagship AHL strategy. Man’s GLG Partners funds suffered outflows.

“Whilst there is a solid sales pipeline in place, and we are seeing increased appetite in long-only strategies and for managed accounts, our outlook for flows is mixed and will depend on performance,” CEO Emmanuel Roman said.

Performance added a further US$900 million to Man’s coffers, which are nearing their all-time high of US$79.5 billion in 2008.

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