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Laxman Pai, Opalesque Asia:

British hedge fund manager Man Group PLC today said its assets under management rose 1% over the first quarter.

The world's largest publicly traded hedge fund said in a press release that its assets under management increased 1% to $144.7 billion, while net inflows from clients in the first three months of this year came in at $1.1 billion.

The active investment management firm reported more than $1 billion of net flows into its funds in the first quarter and a small increase in the value of its assets, over a period that included global banking market turmoil in March. It pointed to a positive investment performance of $0.7bn.

The London-listed hedge fund said that positive forex effects on its finances were offset by "negative performance-linked leverage movements" in the quarter.

The world's largest independent active investment management firm's investment management businesses, Man AHL, Man Numeric, Man GLG, Man FRM, and Man GPM, have combined funds under management of US$ 144.7bn.

According to a Reuters report, Man Group's absolute return strategy was the most popular investment play across the period, which saw a sharp decline in broader investor sentiment sparked by the collapse of U.S. lender Silicon Valley Bank and the emergency rescue of Switzerland's Credit Suisse.

The unit drew net inflows of $1.3 billion, while its overall alternative investments arm drew inflows of $1.6 billion. The company'......................

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