Benedicte Gravrand, Opalesque Geneva:
Man Group’s funds under management amounted to $52bn as at 30 June 2013 – down from $54.8bn at the end of the first quarter of 2013, $52.7bn for H1-2012 and $57bn at the end of 2012, according to the firm's latest interim report.
This was reflected in sales of $6.5bn, redemptions of -$11.5bn, investment movement of $2.5bn, FX translation effects of -$2.4bn and other movements of -$0.1bn during the first half of 2013.
During this period, Man’s funds saw mixed performance: AHL Diversified Programme was down -3.2%; GLG Multi-Strategy gained +5.1%; FRM Diversified II strategy was up +3.1%; and Japan CoreAlpha strategy +41.4%.
"While the first quarter of the year benefited from a more stable environment in financial markets, the second quarter was characterised by renewed volatility," Manny Roman, Chief Executive Officer of Man, said. "Against this background, Man’s investment performance was varied: good in discretionary and challenging in trend following. In terms of flows, investor appetite remained muted as renewed market volatility tempered investors’ willingness to put their money to work. A sustained improvement in investment performance, pa......................
To view our full article Click here