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Here’s Why Man Group Share Price Gained 9% Today

Nigel Firth
Nigel Frith trader
Updated 16 Oct 2020

Practice Stock Trading
Man Group

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 gains on rise of the portfolio size October

Man Group share price rose over 9% to 128.45p, the highest EMG traded since August.


Nigel Firth
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.