Sat, Apr 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Man Group’s FuM now at $58.4bn (est.), down 9.5% from Q3 due to tough trading conditions

Wednesday, January 18, 2012

Benedicte Gravrand, Opalesque Geneva: Man’s funds under management (FuM) for the three month period to 31 December 2011 is currently estimated at $58.4bn – compared to $64.5bn in September (a drop of -9.5%) and $69.bn in March (a drop of 15.5%).

According a release from the group, Q4 sales amounted to $3.1bn and redemptions to $5.6bn, giving a net outflow of $2.5bn. Furthermore, there were negative investment movement of $1.5bn in Q4, with AHL Diversified plc (Man's flagship quant fund) down 7.7% - although GLG, an asset manager acquired by Man in 2010, posted positive overall performance.

FX and other movements lead to a negative $2.1bn, due to degears and translation effects.

Man Group, Europe's largest listed hedge funds group, announced a year ago that its FuM amounted to $68.6bn (end-2010) - representing a drop of around 15% year on year.

Man continues to review operating costs and efficiencies - and more cost reductions will be implemented by the end of 2012.

The group's financial position remains robust, with net tangible assets of $1.6bn , net cash of $600m and total available liquidity resources of $3.2bn, says the release.

Peter Clarke, CEO of Man, said that trading conditions had been tough for Man in H2-2011. Investment performance varied significantly across styles, with market volatility and reduced market liquidity impacting trad......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its