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Alternative Market Briefing

Man Group’s funds’ underperformance impacts group’s results

Monday, March 19, 2012

Beverly Chandler, Opalesque London: With its change of financial year end to end December 2011, Man Group published a nine month annual report today, covering the period from 1 April to 31st December 2011.

In what it described as 'a tough trading period for Man’, the chairman, Jon Aisbitt, chief executive Peter Clarke and finance director Kevin Hayes reported: "Despite a challenging market backdrop, our sustainable business model, growth-oriented strategy, and robust risk management position us to deliver strong long-term investment performance through tailored investor solutions to a growing global investor base. Our overriding goal is to be the leading alternative investment manager globally".

Figures for the period showed funds under management at $58.4bn, down 15% from $69.1bn at March 2011 in what the firm called 'extremely challenging market conditions’. The decrease comprises negative investment performance of $4.0bn, net outflows of $1.5bn, negative FX movement and acquired FUM of $1.4bn and de-gearing and other movements of $3.8bn.

Sales for the period were $16.7bn, split between $13.9bn alternatives and $2.8bn long only. Man reported net outflows of $1.5bn in total with net inflows of $0.3bn into alternatives and net outflows of $1.8bn out of long only. Prior year sales were $11.7bn.

In terms of revenue, Man reported $1,254m in gr......................

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