Man Group sees further institutional outflows

Man Group has seen continued outflows from its institutional book despite its flagship AHL strategy delivering positive returns over the last quarter.

The London-listed group revealed that institutional funds under management fell from $12.6 billion at the end of March to $11.4 billion on June 30, in a trading update.

Overall funds under management fell from $39.4 billion to $38.5 billion although retail assets were up slightly at $27.1 billion from $26.8 billion at the end of March.

Peter Clarke (pictured), chief executive of Man Group, said that its AHL strategy delivered a 0.9% return in the second quarter compared to a 11.6% fall in world stockmarkets and its distribution network was growing.

‘Our recently expanded Ucits product range has now raised over $350m in Europe and we have new onshore initiatives in Brazil, South Korea and Singapore,’ he said.

Clarke added that the proposed acquisition of GLG is ‘proceeding according to plan’.