Booming hedge fund sales have helped Man Group post a better than expected 38% rise in core profits for the first half of the financial year.
Profits before tax, goodwill, amortisation and exceptionals rose to pounds 190.5m from pounds 138m a year ago. Gross hedge fund sales were a record $5.8bn (pounds 3.5bn), pushing Man’s net fees up 53% to pounds 122.8m.
