Man Group funds hit by market turbulence

Reuters UK – British listed hedge fund manager Man Group Plc said on Monday first-half sales rose by about 25 percent to $10 billion, but its shares fell as market turbulence hit its funds under management.

Funds under management fell by $5.0 billion to about $70.3 billion — 12 percent down on the $79.5 billion at end-June — reflecting negative investment movement, Man said. Net inflows for the period rose 14 percent at $4.1 billion.

Shares in the group, which have lost 32 of their value over the last month, were down a further 5.4 percent at 353.5 pence, valuing the group at about 6.35 billion pounds, at 0737 GMT.

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , . Bookmark the permalink.

Comments are closed.