Hedge Fund Man Group Exceeds Expectations

Filed in archive Hedgetalk on March 28, 2008

Hedge fund manager Man Group plc announced that is "Extremely well placed to see continued strong growth." In a statment regarding its close period for the year, Man said, "This is a very strong set of results, achieved through a period of significant market turmoil."

Funds under management have risen to around $75 billion, it is anticipated that profit for the year ending 31 March 2008 will be ahead of market expectations.

Man Group's most recent fund launch, which starts trading 1 April, raised $1 billion and has been included in FUM of $75 billion for the year to 31 March 2008.

Peter Clarke, CEO of Man Group, said, "Strong sales momentum has been maintained with sales of $15.8 billion in the year. Good performance has added $5.3 billion to investor assets during a period when global markets were exceptionally volatile."