Reuters.uk – Man Group Plc the world’s largest listed hedge fund firm, said its earnings rose strongly over the six months to end-September as demand for its products boomed, and its sharesreversed a brief dip on Thursday.<\/p>\n
The British company’s pretax profit on all operations rose by 33 percent to $766 million and its recurring net management fee income rose by 38 percent to $452 million, Man said in a statement.<\/p>\n
Sales for the six-month period came in at $10.6 billion, compared with Man’s own forecast in September of $10.4 billion.<\/p>\n
Man said it was confident for its full-year outlook, after chalking up strong inflows to its portfolios both from private investors and institutions in the six months to the end of September.<\/p>\n
Shares in Man briefly fell as the market opened but recovered and were up 0.4 percent to 489 pence at 0830 GMT. The initial dip in the stock perplexed analysts.<\/p>\n