Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.
Shares of Man Group PLC (LON: EMG) soared over 9% on Friday after the hedge fund manager reported a 4% rise in assets under management to $113.1 billion.
Strong demand for alternative assets resulted in a $1.7bn inflow in this portfolio. The group added that favourable foreign exchange movements additionally contributed with $1.4 billion, while long-only funds added $1.7 billion.
“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,” said Luke Ellis, Man Group's chief executive, in a trading update.
Man Group share price rose over 9% to 128.45p, the highest EMG traded since August.
PEOPLE WHO READ THIS ALSO VIEWED:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .