Mon, Aug 3, 2015
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. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Opalesque Roundup: Hedge fund assets rose to 11th consecutive quarterly record level: hedge fund news, week 31[more]

    In the week ending 24 July, 2015, the total global hedge fund industry assets rose to the 11th consecutive quarterly record level in 2Q15 to $2.97tln; Eurekahedge reported that hedge funds raised $93bn in the first six months of 2015; The SS&C GlobeOp Forward Redemption Indicator for July 201

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

 

banner