Man Assets Rise 4.5%

Jan 10 2008 | 6:05pm ET

Man Group said today that its assets grew at their slowest rate in more than a year during the fourth quarter.

The world’s largest publicly-traded hedge fund manager said it had approximately $71.7 billion in assets under management at the end of December, a 4.5% rise from $68.6 billion at the end of September.

The 4.5% increase was its smallest quarterly jump in 15 months.

Man said sales during the three-month period totaled $4.2 billion, offset by $3.6 billion in redemptions. The balance of the increase was accounted for by performance, which added $1.5 billion, and currency and other adjustments, which totaled another $1 billion.

The firm also said that most of its major funds and products enjoyed a positive fourth-quarter. Its flagship AHL Diversified Fund added 5.1% over the quarter to finish the year at 17%. Other strategies did not do as well other the past three months, with RMF rising 2.7% and Glenwood 1.7%. Man Global Strategies was down marginally, losing 0.8% on the quarter.


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