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Man Group FUM rises 10% to $88.7bn in Q1

London-based asset manager Man Group has said that its funds under management (FUM) rose 10% to $88.7bn in the first quarter of 2017, compared with $80.9bn at the end of December 2016.

Overall, net inflows for the quarter ended 31 March 2017 were $3bn. The performance was driven by strong inflows into discretionary long only and fund of fund alternatives, the company said in its trading statement.

The company recorded positive investment movement of $2.2bn during the period, and positive FX movements of $800m mainly due to the weakening of the US Dollar against the Japanese Yen, Australian Dollar, and Euro.

Man Group CEO Luke Ellis said: “The first quarter of 2017 has been a strong period for Man Group, with funds under management increasing by 10% to $88.7 billion and growth in each of our investment engines.

“We came into the year with a good pipeline of interest from clients, and that has resulted in net inflows of $3.0 billion in the first three months. Investment performance increased FUM by $2.2 billion for the quarter and the completion of the Aalto acquisition added a further $1.8 billion.”

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