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Man Group sees $1.6bn outflows in Q1

Greater than $1.6bn (£1.29bn) was withdrawn from Man Group funds in the course of the first quarter of the yr, the corporate has revealed.

Analysts at Jeffries had predicted constructive internet inflows of round $1.3bn.

The FTSE-250 fund supervisor additionally reported a 4.9 per cent improve in property beneath administration (AUM) over the identical time interval, bringing whole AUM to $175.7bn as of 31 March 2024.

Learn extra: Man Group drops GLG, Varagon manufacturers amid credit score push

On a year-on-year foundation, whole AUM throughout all funds has elevated by greater than 21 per cent. This was as a result of a $9.8bn constructive swing within the group’s funding efficiency.

The fund supervisor’s various technique was value $111.3bn by the top of the primary quarter, regardless of $3.2bn in outflows. The group additionally reported that its US direct lending AUM fell to $10.7bn within the first quarter, down from $10.8bn the earlier quarter.

Learn extra: Moody’s downgrades three direct lending funds

“Occasional highway bumps usually are not surprising at Man, however the truth that AUM — together with absolute return, pushed by robust efficiency and regardless of the outflows — is at document highs demonstrates the enduring and extra constant development in administration charge profitability,” Jefferies mentioned, after the outcomes had been introduced.

Following the primary quarter outcomes presentation, Man Group’s share value fell by nearly 5 per cent.

Learn extra: Man Group seems to be to steadiness liquidity extra between managers and traders

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