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Alternative Market Briefing

As assets increase, Man Group is to acquire real asset manager and form new division

Friday, October 14, 2016

Benedicte Gravrand, Opalesque Geneva:

Man Group, an alternative investment manager headquartered and listed in London, ends the third quarter on a positive note. It has increased its funds under management (FUM) by 6%, agreed to acquire a real assets manager - a change from its usually quantitative strategies - and, tied to that acquisition, launched a long-term investment division.

Assets went from $76.4bn in Q2 2016, to $80.7bn in Q3, largely thanks to positive investment performance by GLG and Numeric, and despite AHL’s negative quarterly performance (1).

The $4.3bn increase in FUM was "driven by a positive investment movement of $2.5 billion and net flows of $1.3 billion," said Luke Ellis, Man’s chief executive officer. "There was good investment performance across both alternative and long only strategies at GLG and Numeric, offsetting negative performance among some of AHL’s strategies this quarter, as the market proved more difficult for trend following strategies. The net inflows were driven largely by the appetite of institutional clients for our quant alternative and quant long only strategies."

Man group acquired London-based GLG in 2010, London-based FRM in 2012, and Boston-based Numeric in 2014. ......................

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