Man Group's assets under management jumped 20.2% to a record $148.6 billion as of Dec. 31, up from $123.6 billion at the end of the prior year.
As of year-end 2021, alternative assets under management totaled $91.6 billion, with long-only assets accounting for the other $57 billion, said a news release Tuesday.
Net inflows totaled $13.7 billion in 2021, vs. inflows of $1.8 billion in the prior year,
However, negative foreign exchange and other impacts reduced assets by $1.2 billion in 2021 vs. a positive impact by these factors of $800 million in 2020, the news release said.
By investment strategy, alternative strategies saw net inflows of $9.4 billion in 2021, while long-only strategies had net inflows of $4.3 billion.
Investment performance amounted to $5.4 billion for alternative strategies and $7.1 billion for long-only strategies.
Man Group's core net revenue surged by 57% to $1.49 billion as of Dec. 31 from a year earlier, while core profit before taxes soared 132% to $658 million. Statutory profit before taxes climbed 230% to $590 million.
Man Group CEO Luke Ellis in the news release attributed the profit jump to "growth in management fee earnings and an exceptionally strong performance fee outcome."
Mr. Ellis added: "Our results highlight the benefit of the diversified set of performance fee earning strategies we offer."
