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
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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