Industry Updates

Hedge fund group Man now manages around 3% more than end-2010 ($71bn), continues expansion

Thursday, May 26, 2011

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Opalesque Industry Update - Man Group’s financial year ending 31st March 2011 presented statutory profit before tax from continuing operations of $324m - compared $541m a year ago.

Funds under management (FuM) stood at $69.1bn (compared to $68.6bn at the end of 2010 and $39.4bn a year ago) and performance fee income was much higher ($169m compared to $97bn a year ago), but restructuring and acquisition costs (remember GLG in October 2010) impacted the total profit significantly.

Adjusted pre-tax profit from continuing operations was $599m (compared to $560m a year ago).

Currently, Man’s FuM are estimated at $71bn. This is reflecting positive flows despite recent demanding performance environment, says the company statement, as strong net inflows since year-end have included $2bn from Nomura Global Trend and $400m from Man IP220 GLG, the first guaranteed product to include GLG strategies. The Nomura Global Trend fund, the first onshore Japanese fund launched by Man's AHL unit, began trading at the end of April 2011 (Source).

Peter Clarke, Man’s CEO said: “Our recent AHL open-ended launch in Japan, which has now raised $2bn, is a clear example of this momentum and is being followed by a Japan GLG currency launch.”

The listed alternative investment management firm, head-quartered in Switzerland, is continuing to build various strategies, and has now $10bn in UCITS formats, as well as $1.3bn in its Systematic Strategies. It is also moving some of its investment management to Hong Kong, for the launch of the AHL renminbi share class.

Man’s Hong Kong office has launched a series of onshore funds for the local market since 1998, among them, the Man AHL Diversified Futures (Source) and Man AHL Trend (Source).

Institutional Investor's tenth annual Hedge Fund 100 ranking (for 2011) recently listed Man Group as the third biggest hedge fund group in the world, after Bridgewater and JP Morgan A.M. (Source).
B. Gravrand

See our January related article:
Opalesque Exclusive: Man Group FuM now at $68.4bn from $63bn in October during GLG acquisition Source

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Man’s press release: Source

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