Man Group’s assets under management totaled $76.4 billion as of June 30, down 2.8% from the previous quarter and down 3% from the year before, the firm said in its trading statement for the first six months of 2016 released Tuesday.
Net inflows for the quarter were $500 million, the same as the previous quarter.
The firm’s three alternative asset strategies — FRM hedge funds of funds, GLG discretionary hedge funds and quantitative AHL hedge funds — lost a collective 0.4% in AUM during the second quarter to a total of $45.7 billion. Quantitative hedge funds had the best quarter of the three, up 1.6% to $19 billion thanks to $1.2 billion in net inflows that canceled out $800 million in market losses and $100 million in currency losses.
Long-only strategy AUM declined 4.4% overall during the second quarter to $30.1 billion, driven by $600 million in net outflows, $500 million in market losses and $400 million in currency losses. Those losses were partially offset by $100 million in other gains. For the year ended June 30, assets managed in AHL quantitative hedge fund strategies rose 19% to $18.8 billion; Man Numeric quantitatively managed hedge fund and long-only strategies increased 7.1% to $19.7 billion; GLG hedge fund and long-only strategies fell 21.9% to $26 billion; and FRM hedge funds of funds and customized hedge funds rose 5.3% to $11.9 billion.
