Media. News and press releases from across Man Group.

27 February 2025

Increasingly diversified range of alternative and long-only investment strategies drives $10.9 billion of positive investment performance for clients

• AUM¹ of $168.6 billion as at 31 December 2024 (31 December 2023: $167.5 billion)
• Relative investment performance^[KPI] of +1.0%, with 5.9% outperformance in the long-only category
• Net outflows of $3.3 billion, driven by the $7.0 billion single client redemption in Q3

Core management fee EPS (diluted) growth^[KPI] of 17% highlights the strengths of our business model

• Core net management fee revenue increased by 14% to $1,097 million (2023: $963 million)
• Core performance fees of $310 million from a broad range of strategies and solutions (2023: $180 million)
• Statutory profit of $298 million (2023: $234 million) and core profit before tax of $473 million (2023: $340 million)
• Statutory EPS (diluted) of 25.1¢ (2023: 19.4¢) and core EPS (diluted)[KPI] of 32.1¢ (2023: 22.4¢)

Consistent shareholder returns in line with our disciplined capital policy; strong balance sheet to support our long-term growth ambitions

• Recommended final dividend of 11.6¢, resulting in a total dividend for 2024 of 17.2¢ (2023: 16.3¢)
• Net tangible assets of $867 million as at 31 December 2024 (31 December 2023: $782 million)
• Intention to repurchase up to $100 million of shares

Good progress against our multi-year strategic priorities – to diversify our investment capabilities, to extend our reach with clients around the globe and to leverage our strengths in talent and technology – including:

• Continued growth of our credit platform: AUM of $35.0 billion (31 December 2023: $28.3 billion), with $5.9 billion of net inflows into discretionary long-only credit and the successful launch of a new US direct lending offering
• In quant equities, 7.6% relative investment performance from the systematic long-only category; continued investments in data and execution technology to support our ambitions in mid-frequency equities
• Resources reallocated across the firm to ensure increased focus on our growth initiatives while reinforcing the core strengths of our business

Robyn Grew, Chief Executive Officer of Man Group, said:

“Following my first full year as CEO, I’m pleased to report a strong set of results for 2024. In another volatile year for markets, we delivered good performance for our clients, with all our product categories contributing positively. The strides we have made in diversifying our business underpinned $310 million of core performance fees despite a muted contribution from trend-following strategies, and 17% growth in core management fee EPS. With a lot of hard work and focus during the year, we also made good progress on several of our multi-year strategic priorities that will continue to strengthen our firm for the future.

“We see significant opportunities on the horizon in 2025. Stretched equity valuations and the risk of persistent inflation in the US suggest that allocators will increasingly seek uncorrelated investment strategies, while higher-for-longer interest rates are likely to support continued growth in credit markets. As the challenges facing investors become more complex, the demand for customised, scalable and differentiated solutions will only increase. There’s a huge amount to play for as a diversified alternative investment manager with exceptional talent and cutting-edge technology; we are in prime position to partner with our clients and help them successfully navigate what lies ahead.”

This document should be read in conjunction with the content and definitions included in the 2024 Annual Report.
‘Core’ measures are alternative performance measures. For a detailed description of our alternative performance measures, including non-core items, please refer to pages 61 to 67. For details of key performance indicators ([KPI]), refer to page 11.
1. Assets under management.