GLOBAL - Man Group, the specialist provider of alternative investment solutions, has seen a US$500m rise in funds under management to $43.5bn since the end of March.
Harvey McGrath, chairman of Man Group, said: Group funds under management have increased from $43bn at the end of March, to about $43.5bn at the end of June.
“This is after taking into account adverse currency translation impacts of $0.6bn reflecting recent euro weakness against the US dollar. Since March, overall investment performance has continued to be positive, with AH (Athena Guaranteed Futures) up 5%.
Man, which manages $17.5bn in institutional funds said it remained confident of the group's prospects for the remainder of the year. Sales in the three months to 30 June were $1.6bn of whcih Man’s global launch, Man AP Enhanced Series 2, accounted for $7bn.
Performance added $0.2bn and net movements in the leverage on prior year sales added nearly $0.4bn.
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