Man Group has registered a 4% rise in funds under management (FUM), driven by net inflows of $1.7bn in alternatives.
The British hedge fund manager’s FUM was $113.1bn as of 30 September 2020, compared with $108.3bn at the end of June 2020.
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The performance was also supported by positive investment performance of $1.7bn, along with FX and other impacts of positive $1.4bn.
The firm’s alternative FUM grew by $3bn to $72.4bn at the end of September 2020. Net inflows were $1.9bn, mainly due to AHL TargetRisk and Alternative Risk Premia.
In Alternative, positive investment performance of $0.3bn was driven by positive absolute performance from AHL TargetRisk and AHL Evolution that was partially offset by negative absolute performance from Alternative Risk Premia.
Long-only FUM grew by $1.8bn to $40.7bn even after recording net outflows of $0.2bn.
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By GlobalDataNumeric Global Core, Numeric Emerging Markets Core and GLG Continental Europe led to positive investment performance of $1.4bn, partly offset by GLG UK Undervalued Assets.
Man Group CEO Luke Ellis said: “We are pleased to report good performance in the third quarter and strong growth in funds under management.
“This was driven by robust net inflows into alternatives as anticipated, as well as performance gains across both alternative and long-only strategies. Engagement with clients remains good, although there is increasing uncertainty due to upcoming political events and current COVID-19 trends.”
“Our immediate priorities continue to be the health and well-being of our colleagues and the performance of our clients’ assets. Our diversified range of strategies, our people and technology and a sustainable business model, underpinned by our strong and liquid balance sheet, allow us to manage the firm for the long term.”
Recently, Man AHL, the quant investment arm of Man Group, was in the news for receiving the approval for a qualified foreign institutional investor (QFII) licence in China.
