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Alternative Market Briefing

Man Group’s H1-2013 funds under management steady at $52bn, profits up at $134bn from a year ago

Friday, August 02, 2013

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......................

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