Thu, Nov 27, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Man Group’s Annual Report reflects impact of 'a turbulent market and economic background’

Monday, March 18, 2013

Beverly Chandler, Opalesque London: The Man Group Annual Report for 2012 shows a further decline in profitability for the group due to a 43% drop in high margin guaranteed product FUM and $7.3bn of net outflows. Other highlights include:

  • $979 million goodwill impairment leads to a statutory loss
  • Significant progress made in reshaping the business
  • Acquisition of FRM completed in July and integration into the Multi-Manager business now complete
  • $95 million of operating cost savings announced in January 2012 delivered and on track to deliver further annual cost savings of $100 million by the end of 2013
  • Improvement in capital and liquidity through sale of assets in the Lehman estates and positive operating cash flow.
Funds under management with the group stood at $57bn at end December 2012, down 2% year on year. The decrease comprises: net outflows of $7.3bn de-gearing and other movements of $3.4bn, negative FX of $0.3bn, partly offset by acquired FRM FUM of $8.3bn and positive investment performance of $1.3bn.

Sales stood at $12.8bn, split between $9.0bn alternatives and $3.8bn long only. Net outflows of $7.3bn in total, with net outflows of $6.8bn out of alternatives and $0.5bn out of long only. Sales were $16.7bn for the prior nine month period.

Gross revenue comprised $1,209m of management fees and $90m of performance fees. Revenue was imp......................

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. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. CTAs , event-driven strategies lead hedge funds recovery in mid-November[more]

    Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief. CTA funds als

  4. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  5. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed