Man Group Says Profits Will Top Expectations

Mar 27 2008 | 11:23am ET

The Man Group said it expected to beat profit expectations this year, buoyed by the strong performance of its hedge funds and an increase in its assets under management.

The world’s largest publicly-traded hedge fund manager said today that it anticipates it will best analyst expectations of a pre-tax profit of US$1.8 billion in fiscal year 2008. The firm said it expected a 15% increase in management fee income, as assets under management have grown to US$75 billion from US$71.7 billion at the end of last year. Man also said performance fee income will rise.

“Strong sales momentum has been maintained with sales of US$15.8 billion in the year, reflecting the attraction of our diversified product range, established track record, and the broad geography of our investors,” Man CEO Peter Clarke said. “Good performance has added US$5.3 billion to investor assets during a period when global markets were exceptionally volatile.”

In the first quarter of this year, Man added US$3.5 billion in new money against redemptions of US$2.6 billion.

The firm’s flagship AHL strategy, which manages almost one-third of the firm’s assets, posted a 22.8% return in the past 12 months.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.