Reuters – Man Group, the world’s largest listed hedge fund firm, said it expected fee income and earnings per share to have risen by about a third in the six months to the end of September, sendingits shares to a record high.
Net management fee income will rise by 35 percent in the first six months of the year from the same period a year before, Man said in a trading update on Friday, while net performance fee income will be up around 25 percent.
Diluted earnings per share on total operations should be up about 35 percent, the company said, while total assets under management would be more than $56 billion (30 billion pounds) at the end of September.
Shares in Man jumped to a record 467 pence in early trade, surpassing a previous high of 460-1/2p set in May, and were up 2.76 percent at 456p by 11:30 a.m., outperforming the FTSE 100 index, which rose 0.03 percent.
“They are extraordinarily strong numbers,” David Browne, head of group funding and external communications at Man, said.
