Man Group Assets Reach $270.9bn as Long-Only Funds Draw Most Inflows

Man Group (LON: EMG) reported assets under management of $270.9bn at the 30th of September, up from $253.6bn at the 30th of June. The Jersey-based alternative investment manager published its trading statement for the quarter today, and its shares were higher in early trade.

The shares stood at 343.4p at 8.16am today, up 7p or 2.08% on yesterday’s close of 336.4p. They opened at 340p and touched an intraday high of 348.8p. A year ago they were trading near 200p.

The $17.3bn rise in the quarter is made up of $10.1bn of net flows, meaning new client money less withdrawals, $5.9bn of investment performance, the gains on assets already managed, and $1.3bn of other movements.

Long-only funds, which buy assets and do not short them, took $8.2bn of the net flows. Alternative strategies took $1.9bn. Net flows equal about 4.0% of the $253.6bn the group managed at the start of the quarter.

Assets under management are the base on which Man earns its fees, so a larger figure is supportive. The total is 26.6% above the $213.9bn recorded a year earlier and 6.8% above the end of June. It was $228.7bn at the end of March.

Long-only equity rose to $113.2bn from $104.2bn, and long-only credit to $40.6bn from $38.9bn. Liquid alternatives, hedge-fund-style strategies that are easily traded, rose to $99.7bn from $92.9bn. Private market assets slipped to $17.4bn from $17.6bn.

The statement is limited to assets and performance figures. It gives no fee, profit or guidance numbers, so it does not show what the larger asset base means for Man’s earnings.