Man Assets Rise In Second Quarter On Sales, Performance

Jul 11 2008 | 10:50am ET

Despite a difficult first half for hedge funds, the Man Group continues to rake in new assets. The London hedge fund giant said sales were US$5 billion in its first fiscal quarter, against redemptions of just US$2.5 billion. The US$2.5 billion net inflow, alongside US$1.7 billion in performance gains and US$700 million in positive currency moves pushed the firm’s assets under management up 6.6% to US$79.5 billion.

A substantial chunk—US$2.2 billion—of Man’s sales was in its increasingly popular guaranteed products.

“This success in asset-raising reflects the group’s broad geographic presence and the continued attraction of conservatively-structured alternative investment products,” Jon Aisbitt, chairman of Man, said.

While most hedge funds are in the red, Man’s for the most part posted positive performance. Its flagship AHL strategy returned 3.8% on the quarter, while its Glenwood and RMF funds of funds rose about 2.4% and 2.5%, respectively.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of