Man Group Weathers First Quarter Storm As Assets Dip $100M

Apr 16 2016 | 12:45am ET

Man Group came through the first quarter in better shape than many of its peers, according to the company’s first quarter results. 

The world's largest listed hedge fund company noted that it managed to keep most of its assets during the quarter, losing only around $100 million in AUM in the funds it manages. 

Man managed $78.6 billion at the end of March, according to a statement, down slightly from the $78.7 billion it managed at the end of December. Man said results from its algorithmic trading unit AHL offset poorer performance at GLG, its actively traded equities arm. 

Overall, inflows across all funds of $500 million were offset by market losses of $700 million, the company said.  The group's efforts to diversify were bearing fruit, according to the statement, but market uncertainty remains challenging and uncertain risk appetite could hit fund flows.

Man’s results come a day after BlackRock, the world’s largest asset manager, disclosed a 20% decline in profits for the first quarter partly due to lower alternative asset fees.

London-based Man Group, which traces its heritage back to the 1783 founding of a sugar coop and brokerage company by James Man, is the largest hedge fund manager in the world. 

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