Media. News and press releases from across Man Group.

24 February 2016

Key points

• Fund under Management (FUM) up 8% to $78.7 billion (31 December 2014: $72.9 billion)
  • Gross sales of $22.9 billion (2014: $21.9 billion)
  • Redemptions of $22.6 billion (2014: $18.6 billion)
  • Net inflows of $0.3 billion (2014: net inflows $3.3 billion)
  • Investment movement of $2.4 billion (2014: $3.6 billion)
  • FX translation effects and other movements of -$3.0 billion (2014: -$4.3 billion)
  • Acquisition of Silvermine, NewSmith and the BAML fund of hedge funds portfolio completed during the first half of the year, adding $6.1 billion to FUM
• Adjusted profit before tax (PBT) of $400 million in 2015 (2014: $481 million):
  • Net management fee profit broadly in line with 2014
  • Net performance fee profit down following a very strong year in 2014
• Statutory PBT for the year ended 31 December 2015 of $184 million (2014: $384 million)
• Proposed final dividend of 4.8 cents per share bringing total dividend for the year to 10.2 cents (2014: 10.1 cents)
• Surplus regulatory capital of $453 million at 31 December 2015 (2014: $419m); $480 million pro-forma for inclusion of H2 profits and final dividend

Manny Roman, Chief Executive Officer of Man, said:

“Against a backdrop of challenging market conditions, 2015 was another year of good progress for Man Group. We have delivered against our strategic objectives, continuing to enhance our investment capabilities through the successful integration of three acquisitions that completed in the first half of the year and the appointment of some high calibre investment managers to the firm. FUM increased by 8% driven by acquisitions and flows were slightly positive in the year with net inflows of $2.9 billion in the second half.

Looking forward, the on-going volatility in the markets in which we operate remains very challenging and, accordingly, the risk appetite of our clients might impact flows. However, we now have a more diversified offering and a range of attractive options for growth, which have strengthened the firm and enhanced our resilience as a business.”