Reuters- Man Group, the world’s largest listed hedge fund firm, said on Thursday that its assets under management rose to $67 billion (33 billion pounds) at end-June, up from $61.7 billion atend-March, and that it was upbeat on prospects.
The firm (EMG.L: Quote, Profile, Research) said it logged sales of $3.8 billion over the three months, while redemptions totalled $2.3 billion.
“The board remains very confident of the group’s prospects for the year,” Chairman Harvey McGrath said in a statement ahead of the firm’s annual meeting.
Over the three months, Man’s closely watched AHL futures strategy, which lost around $500 million in value in the three months to March, was up 15 percent, while Man Global Strategies rose 8 percent.
Investors have continued to pour money into the $2 trillion hedge fund industry, despite sub-market returns this year.
In May Man Group reported that full-year profits rose 13 percent, despite a drop in performance fee income, and said it expected strong asset growth to continue.
