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Man Group FuM now at $68.4bn from $63bn in October during GLG acquisition

Thursday, January 20, 2011

Man Group, Europe's largest listed hedge funds group, is validating its top placement with funds under management (FuM) of $68.6bn at the end of 2010.

Man's FuM were at $40.5bn on 30 September 2010. This was up 5% from 30 June 2010, when FuM were at $38.5bn, but far from the 2007 level, when FuM were more than $60bn.

Switzerland and London-based Man Group announced the completion of the acquisition of GLG on 14th October, 2010, saying it would create a multi-style, performance-focused alternative asset manager with FuM of around $63bn in total. GLG is now a wholly owned subsidiary of Man. This validated those who have been claiming since early 2008 that there was an ongoing consolidation trend in the hedge fund world.

Growth in FuM and positive investment returns generated an additional $2.8bn for investors. Both AHL and GLG alternatives saw positive flows, with the majority coming from GLG. AHL Diversified plc (Man's flagship quant fund) was up 14.8% in 2010. GLG Atlas Macro, GLG Emerging Markets, GLG European Distressed, GLG Market Neutral, GLG Global Opportunity, GLG North American Opportunity and the long-only GLG Performance Fund showed double digit returns too.

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