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Laxman Pai, Opalesque Asia:

World's largest publicly traded hedge fund Man Group has seen its core profit before tax (PBT) surge by 39.1% year-on-year to $473m in 2024.

The British hedge fund manager reported that its assets under management grew by around 1% to $168.6 billion in 2024.

The London headquartered money manager said that its core net revenue for the year ended 31 December 2024 was $1.45bn, up 22% from $1.19bn in 2023.

Man Group's profit and revenue figures beat expectations while its asset growth was slightly below the anticipated level, the active investment management firm said in a release.

The multi-strategy firm saw strong investment performance from its long-only strategies, which contributed an additional $10.9 billion to the firm-wide AUM, the firm said.

Other strategies, particularly trend-following strategies such as its AHL Alpha and AHL Evolution produced mixed returns of a positive 3.2% and negative 6.1%, respectively.

Man Group CEO Robyn Grew said that the firm delivered "good performance" for its clients in another volatile year for markets.

"We see significant opportunities on the horizon in 2025. Stretched equity valuations and the risk of persistent inflation in the US suggest that allocators will increasingly seek uncorrelated investment strategies, while higher-for-longer interest rates are likely to support continued growth in credit markets," Grew said.

Meanwhile, Reuters report......................

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