Man Group’s underlying profits climb 38%

MAN GROUP posted a 38 per cent rise in underlying profits yesterday as funds under management at the blue chip hedge fund rose more than a fifth to $31.5bn in the six months to 30 September. Pre- taxprofits before exceptionals rose to pounds 190.5m. The company said the high level of private investors’ sales continued in the second half, and estimated funds under management at the end of Octoberwere $32.5bn. Man shares ended down 7p at 1,431p.