Fri, Apr 25, 2014
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

Banner
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: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance