Man Group reported inflows for the fourth quarter, as clients of the world’s largest publicly traded hedge fund piled into the firm’s long-only offerings.
Investors added a net $1.3 billion in the last quarter of the year, according to a statement on Feb. 27. The flows had been driven by inflows into systematic and discretionary long-only strategies.
Shares rose as much as 5.7% in early London trading.
The inflows in the final three months of the year mark a reversal from the previous quarter, when Man Group had seen net outflows after a single client withdrew $7 billion of its funds to invest passively. That client’s move ultimately resulted in Man Group reporting net outflows of $3.3 billion for the full year.
“In another volatile year for markets, we delivered good performance for our clients,” Chief Executive Officer Robyn Grew said in the statement.
London-based Man Group runs a range of investment products from hedge funds, quantitative money pools to long-only strategies. Grew, who took over as Man Group’s first female chief executive officer in 2023, has been overhauling the firm, merging its discretionary trading units and re-prioritizing its focus on hedge fund strategies.
The company is looking at opportunistic and distressed credit managers as potential acquisition targets, particularly in the U.S., Man Group Chief Financial Officer Antoine Forterre told Bloomberg Television in an interview.
The company also said it plans to repurchase as much as $100 million of its shares.
