Wall Street Journal – Man Group PLC said its assets are growing again after a 15-month decline that saw the funds it manages nearly halve, as redemptions from institutional clients markedly slowed in its fiscal second quarter.
Funds under management now stand at around $43.8 billion, from $43.3 billion at June 30 and down from their peak of $79.5 billion in June 2008.
Analysts said the news was encouraging and some raised their ratings and price targets. Man Group shares rose as much as 8% and at 0900 GMT were trading at 332 pence, up 23 pence or 7.6%.
