Man Group, the UK-listed hedge fund company, achieved its highest level of assets under management (AUM) last year, according to its full-year financials.
The firm’s AUM stood at $123.6 billion (€102.5 billion) – up from $117.7 billion a year before.
Despite the performance-led growth, core profit before tax decreased by 26% to $284 million.
Man’s full-year figures show AUM growth was mainly due to investment performance of $3.3 billion, but net inflows of $1.8 billion also contributed.
Performance across all products amounted to 3%. Alternative strategies were up 2%, driven by AHL Alpha (+7.9%) and AHL TargetRisk (+5.7%). Long-only strategies were up 4.3% on average, having benefited from the rebound in equity markets in the latter part of the year.
Luke Ellis, CEO of Man Group, said: “Last year was an exceptionally difficult time for much of the world, with Covid-19 fundamentally changing our day-to-day lives and how businesses operated. I am proud of how the Man Group team pulled together and am delighted to deliver a strong set of financial results in a challenging environment, which demonstrate both growth and resilience.”
© 2021 funds Europe
