Tue, Oct 25, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
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......................

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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From Thisismoney.co.uk: The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From CNBC.com: Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Marketwatch.com: Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Forbes.com: Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa