Wed, Jul 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Man Group’s assets fell 5% to $54.1bn in 2013, sees challenges ahead this year

Friday, February 28, 2014

Komfie Manalo, Opalesque Asia:

The world’s largest publicly traded hedge-fund firm Man Group reported a 5% decline in funds under management (FUM) in 2013 to $54.1bn from $57bn a year ago, as it sees challenges ahead this year. In the fourth quarter, Man Group generated $700m in inflows while net outflows fell 51% in 2013 to $3.6bn from $7.3bn in 2012. The firm is also on track to deliver total cost savings of $270m by the end of 2015.

Manny Roman, Chief Executive Officer of Man, said in a statement, "Despite challenging conditions for our business, we continued to make progress against our strategic objectives in 2013. Our priorities remain to deliver superior risk adjusted investment performance, build options for growth, improve and leverage our distribution capabilities and operate the business as efficiently as possible. We largely completed the restructuring of our cost base and balance sheet during the year, and continued the development of new business areas. Investment performance in 2013 was reasonable on a relative basis and flows showed modest recovery towards the end of the year after a weaker first half."

The fund management firm reported fresh money from investors after it announced plans to repurchase $115m shares. Investors redemptions also fell 2% to $19.......................

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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  3. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  4. Opalesque Roundtable: European family offices struggle to retain their investments in offshore hedge funds[more]

    Komfie Manalo, Opalesque Asia: The European Union’s Alternative Investment Fund Managers Directive (AIFMD) will constrain investment opportunities amidst concern a number of U.S. fund managers will stop marketing their products in the European Union under the new rule, said Valentin Bohländer fro

  5. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm