Man Group on acquisition hunt as assets fall

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Man Group’s chief executive says the group is exploring acquisition and organic growth opportunities, as the group saw funds under management fall slightly this quarter to $78.6bn.

Funds under management were $78.7bn at the end of December, despite the group seeing net inflows of $500m.

Gross inflows of $1.3bn were seen in quant alternative strategies and $400m for quant long-only strategies.

However, outflows of $600m were seen in discretionary alternative, $500m in discretionary long-only, and $100m in guaranteed products.

Positive investment performance across AHL’s strategies added $800m, but were offset by negative investment performance for GLG, reducing funds under management by $1.5bn.

Manny Roman, chief executive of Man, says: “Investment performance across our quantitative strategies and net inflows meant that group funds under management remained stable over a highly volatile quarter. 

“The ongoing uncertainty in the markets remains challenging and, accordingly, the risk appetite of our clients has the potential to impact flows. However, the ongoing diversification of our business has enhanced our resilience as a firm and positions us well to navigate the current economic climate.

“As we have previously indicated, we continue to explore new options for growth, both organically and by acquisition, within our disciplined financial framework.”