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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 third quarter ended September 30, 2021, underpinned by 'strong' net inflows.
According to a press release from the asset management company, funds under management (FUM) for the September quarter rose 3% to $139.5 billion year-on-year, driven by net inflows of $5.3 billion and positive investment performance of $0.4 billion.
The world's largest publicly traded hedge fund posted negative FX and other impacts of $1.5 billion.
"At 12 October 2021 we had completed $62 million of the $100 million share buyback announced in July 2021," the hedge fund manager said in the release.
The London-listed company said: "Looking forward, we see positive momentum continuing into the fourth quarter, with a high level of client engagement on a number of larger institutional mandates across our systematic long-only and multi-manager strategies."
Luke Ellis, Chief Executive Officer of Man Group, said: "We are pleased to report a further increase in funds under management in the third quarter, reaching a new peak of $139.5 billion driven by very strong net inflows of $5.3 billion and solid investment performance for our clients."
Luke added: "We continue to invest in our talent and technology, which underpin our growth and ability to deliver superior risk-adjusted investment performance for our clients and generate value for our...................... To view our full article Click here
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