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GLG Partners reports net inflows of $1.5bn for Q2 and $2.5bn for H1

Tuesday, July 20, 2010
Opalesque Industry Update - GLG Partners, Inc. today reported estimated net assets under management (AUM) of approximately $23.0 billion as of June 30, 2010.

Highlights

  • Net inflows of approximately $1.5 billion for the second quarter of 2010 and $2.5 billion for the first half of 2010
  • First half 2010 dollar-weighted average returns of approximately 3.8% for the alternative strategies, 2.1% for the 130/30 strategies and (4.4%) for the long only strategies, versus MSCI World Index return of (7.1%) and S&P 500 Index return of (6.9%) for the same period

"We saw robust net AUM inflows and continued to deliver strong performance for our investing clients across the GLG platform despite turbulent market conditions in the second quarter," said Noam Gottesman, Chairman and Co-CEO of GLG.

Assets Under Management (Estimated)
(US$ in millions)

Six Months Ended Three Months Ended
June 30, 2010 June 30, 2010
Opening Net AUM (Actual) $ 22,175 $ 23,668
Inflows (net of redemptions) 2,491 1,537
Performance (gains net of losses and fees) (232 ) (1,524 )
Currency translation impact (non-US$ AUM expressed in US$) (1,477 ) (725 )
Closing Net AUM $ 22,956 $ 22,956

Note: Totals may not add up due to rounding.

As of

June 30, 2010

March 31, 2010
(Actual)

Alternative strategies1 $ 12,088 $ 12,504
Long only strategies2 12,820 13,340
Gross AUM $ 24,908 $ 25,844
Less: alternative strategy investments in GLG Funds $ (956 ) $ (1,078 )
Less: long only strategy investments in GLG Funds (996 ) (1,098 )
Net AUM $ 22,956 $ 23,668
Quarterly average net AUM3 $ 23,312 $ 22,921

Note: Totals may not add up due to rounding. Managed accounts amounted to approximately $11.6 billion in net AUM at June 30, 2010 and $11.9 billion in net AUM at March 31, 2010.

Investment Performance (Estimated)

Q2 20104

YTD through
June 30, 20104

GLG dollar-weighted average returns:
Alternative strategies (1.4 %) 3.8 %
130/30 strategies (3.9 %) 2.1 %
Long only strategies (9.9 %) (4.4 %)
MSCI World Index (11.2 %) (7.1 %)
S&P 500 Index (11.6 %) (6.9 %)

1 Alternative strategy gross AUM includes all alternative strategy funds, all 130/30 strategy funds, all managed accounts managed in accordance with alternative and 130/30 strategies, and cash and other holdings.

2 Long only strategy gross AUM includes all long only funds and managed accounts managed in accordance with a long only strategy.

3 Quarterly average net AUM for a given period is calculated as a two-point (quarter open and close) average.

4 Performance is typically measured by the longest running share class in each fund. Dollar-weighted average returns are calculated based on the estimates as of the date hereof and may change upon completion of quarter-end valuation procedures. Any changes could be material. See the Appendix for a description of how dollar-weighted average returns are calculated.

Corporate website: Source

- FG

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