Man Group's assets under management dropped 2.5% to $76.8 billion in the quarter ended Sept. 30, primarily the result of investment losses of $2.7 billion.
Net inflows for the quarter were $1.4 billion, according to the firm's third-quarter trading statement, released Thursday.
Man Group's alternative asset strategies — quantitative AHL hedge funds, GLG discretionary hedge funds and FRM hedge funds of funds — gained a collective 2.5% in assets during the three-month period, with quantitative hedge funds seeing a 14.8% increase while GLG was down 3.3% and FRM declined 4.6%.
During the third quarter, assets managed in Man Group's long-only investment strategies dropped 8.7%, with quantitative strategies down 6.6% and discretionary strategies down 11.6%.
Over the year ended Sept. 30, Man Group's total assets rose 6.2% with assets managed in AHL quantitative hedge fund strategies up 34.6% to $17.9 billion; Man Numeric quantitatively managed hedge fund and long-only strategies up 13.9% to $17.2 billion; GLG hedge fund and long-only approaches down 3.7% to $31 billion; and FRM hedge funds of funds and customized hedge fund business down 8.5% to $10.7 billion.
“The political uncertainties and economic upheaval in parts of the world continue to provide a very challenging market backdrop of our business. Accordingly, the risk appetite of our clients may impact flows,” said Emmanuel “Manny” Roman, Man Group's CEO, in the statement.
