Man Group’s assets under management were $78.6 billion as of March 31, down 0.1% from the end of 2015 and up 0.64% from a year earlier, the firm said in its first-quarter trading statement released Friday.
Net inflows for the quarter were $500 million.
The firm’s three alternative asset strategies — quantitative AHL hedge funds, GLG discretionary hedge funds and FRM hedge funds of funds — added a collective 2.91% in assets in the quarter, with quantitative hedge funds posting a 14.02% increase, due primarily to $1.3 billion in net inflows, $800 million in investment gains and $300 million in positive currency movement. GLG and FRM’s assets declined 5.52% and 0.84%, respectively.
Long-only strategy assets declined 3.96% overall during the first quarter to $31.5 billion, driven by $500 million in net outflows and investments losses of $1.2 billion for GLG long-only strategies.
For the year ended March 31, assets managed in AHL quantitative hedge fund strategies rose 16.36% to $19.2 billion; Man Numeric quantitatively managed hedge fund and long-only strategies increased 8.99% to $19.4 billion; GLG hedge fund and long-only strategies fell 16.22% to $27.9 billion; and FRM hedge funds of funds and customized hedge funds rose 15.24% to $12.1 billion.
