New York (HedgeCo.net) – Hedge fund giant Man Group reached $71.0 billion (FUM) at 30 June 2011, compared with $69.1 billion by 31 March 2011.
“We are pleased to be reporting strong net inflows from investors over the last quarter.” Peter Clarke, Chief Executive of Man, said, “Following the successful integration of GLG at the end of 2010, we are seeing revenue synergies building, with investor flows into AHL, GLG strategies, and combination products.”
“Current markets are creating challenging performance conditions for most asset classes, and our assumption is that investor sentiment will remain patchy over the summer months.” Clarke said.
Man also reported that other movements of $1.8 billion were driven by routine rebalancing of investment exposure in the guaranteed products after negative AHL performance in the rebalancing period; FX movements added $0.8 billion; acquisition of the remaining 50% of Ore Hill added $0.3 billion.
Man reports: “(our) Financial position remains strong, with a regulatory capital surplus of around $900 million, net cash of around $900 million and total available liquidity resources of around $4.8 billion.”
Alex Akesson
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