Reuters.uk – Man Group Plc the world’s largest listed hedge fund firm, said its earnings rose strongly over the six months to end-September as demand for its products boomed, and its sharesreversed a brief dip on Thursday.
The British company’s pretax profit on all operations rose by 33 percent to $766 million and its recurring net management fee income rose by 38 percent to $452 million, Man said in a statement.
Sales for the six-month period came in at $10.6 billion, compared with Man’s own forecast in September of $10.4 billion.
Man said it was confident for its full-year outlook, after chalking up strong inflows to its portfolios both from private investors and institutions in the six months to the end of September.
Shares in Man briefly fell as the market opened but recovered and were up 0.4 percent to 489 pence at 0830 GMT. The initial dip in the stock perplexed analysts.
