Reuters- Man Group, the world’s biggest listed hedge fund firm, said on Thursday it would beat analysts’ average profit forecast for the year ended March 31, despite turmoil in financial markets.
The group said it had benefited from a bigger-than-expected rise in net performance fee income, as well as a strong performance at its AHL futures business.
It said analysts’ average forecast for pretax profit from continuing operations was 1.82 billion pounds.
Funds under management were up at around $75 billion (37 billion pounds), from $71.7 billion at December 31, while redemptions totalled $10.6 billion, including $2.6 billion in the final quarter.
