Man Group, a UK-based specialist alternatives investment manager, has reported that its funds under management (FuM) reached to $78.1bn in the first three months of 2015, an increase of 7% compared to $72.9bn a year earlier.
However, current FuM are estimated to have touched $82bn including $2.4bn relating to the acquisitions of NewSmith in February and BAML fund of funds.
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The group reported a net outflow of $1.3bn as. Foreign exchange rate movements resulted in a $2bn hit to funds under management.
Man Group CEO Manny Roman said: "We had a good start to the year from a performance perspective which, together with the latest acquisitions, contributed to an overall 7% increase in FUM over the quarter.
"Our flows in Q1 reflect a natural lag between better investment performance and higher sales. As we have commented previously, our business is now more institutional in nature, with larger individual mandates causing greater variation in flows on a quarterly basis.
"We retain a degree of caution on the outlook for first half flows. As ever, the outlook for the rest of the year will likely depend on performance."
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By GlobalDataMan Group also revealed that it is now searching for a new chairman as Jon Aisbitt, who is holding the post since September 2007, intends to step down in May next year.
