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Laxman Pai, Opalesque Asia:

British hedge fund manager Man Group posted a record record-high funds under management (FUM) during the first six months of 2021, predominately driven by a "strong investment performance" throughout the half.

The world's largest publicly traded hedge fund said that FUM had grown to $135.3bn from $123.6bn at the end of the calendar year 31 December 2020.

The London-listed company firm swang from a negative investment performance of $5.4bn in the first half of 2020 to a positive $9.5bn showing in 2021.

The hedge fund manager also said it attracted net inflows of $1.2 billion, a remarkable improvement as against net outflows of $1.2 billion in H1 2020.

Luke Ellis, Chief Executive Officer of Man Group, said: "The first half was a period of excellent growth for Man Group as we reached record funds under management, continued a trend of positive net inflows, and grew management fee profit by 51% and total profit per share by 246%. This growth was predominantly driven by strong investment performance for our clients, resulting in both material performance fees from our quantitative strategies and a significant uplift in management fees."

Luke added: "The firm's momentum continues as we enter the second half, supported by strong performance fee optionality, a high level of client engagement and a strong sales pipeline. We remain focused on investing in our talent and technology, which are the foundations of the firm and cement our......................

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