Man Group Assets On The Mend After 15-Mo Decline
Wednesday, September 30, 2009 : PermalinkWall Street Journal – Man Group PLC said its assets are growing again after a 15-month decline that saw the funds it manages nearly halve, as redemptions from institutional clients markedly slowed in its fiscal second quarter.
Funds under management now stand at around $43.8 billion, from $43.3 billion at June 30 and down from their peak of $79.5 billion in June 2008.
Analysts said the news was encouraging and some raised their ratings and price targets. Man Group shares rose as much as 8% and at 0900 GMT were trading at 332 pence, up 23 pence or 7.6%.
Tags: group shares, man-group, redemptions
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