Man Group, a London-based hedge fund firm, has reported an adjusted pre-tax profit of $400m for 2015, down 16.8% compared to $481m in the prior year.
The statutory profit before tax for the year was $184m, down 52% from $384m a year earlier.
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Net revenues were $1.07bn in 2015, compared to $1.08bn in 2014.
The company’s funds under management (FUM) at the end of 31 December 2015 increased 8% to $78.7bn from $72.9bn a year ago.
Gross sales increased 4.5% to $22.9bn in 2015 from $21.9bn in 2014.
Net inflows declined 90.9% to $0.3bn from $3.3bn in the prior year.
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By GlobalDataThe group has also proposed a final dividend of 4.8 cents per share bringing total dividend for the year to 10.2 cents.
Man Group CEO Manny Roman said: "Against a backdrop of challenging market conditions, 2015 was another year of good progress for Man Group. We have delivered against our strategic objectives, continuing to enhance our investment capabilities through the successful integration of three acquisitions that completed in the first half of the year and the appointment of some high calibre investment managers to the firm."
