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AGM and Quarterly Funds Under Management Statement 2007

12 July 2007

AGM Statement

"Demand for our fund products has remained strong, both from private investors and institutions.  Sales in the three months to 30 June 2007 were $3.8 billion. Group funds under management have increased from $61.7 billion at 31 March 2007 to $67 billion at 30 June 2007.  For the three months ended 30June 2007, overall product performance has continued to be positive, with Man Global Strategies* up 8%, AHL* up 15%, Bayswater* up 4%, RMF* up 6% and Glenwood* up 4%.  The Board remains very confident of the Group's prospects for the year."

First Quarter FUM Statement

Sales for the three months to 30 June 2007 were $3.8 billion.  The three months sales comprised guaranteed products which accounted for $1.0 billion; open-ended private investor sales for $0.5 billion; and institutional sales for $2.3 billion.  Reflecting the level of sales, funds under management have risen and were $67 billion at 30 June 2007, up from $61.7 billion at 31 March 2007.  The split of funds under management is private investor $40 billion (31 March 2007: $36.6 billion) and institutional $27 billion (31 March 2007: $25.1 billion).

Redemptions for the three months to 30 June 2007 totalled $2.3 billion, of which private investor were $1.0 billion.  Positive investment movement was around $4 billion with maturities and a small negative FX totalling $0.2 billion. 

*As represented by the performance of Man Multi-Strategy Guaranteed Ltd, Athena Guaranteed Futures Limited, Man Bayswater Macro Class O, RMF Absolute Return Strategies I and Man-Glenwood Multi-Strategy Fund Limited in the three months to 30 June 2007. All performance figures are estimates except for Athena Guaranteed Futures Limited.

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