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Trading statement for the quarter ended 31 March 2018

12 April 2018

Key points

  • Funds under management (FUM) of $112.7 billion at 31 March 2018 (31 December 2017: $109.1 billion) with growth across all our core product categories
    • Net inflows in the quarter of $4.8 billion, driven by strong inflows into alternative risk premia, European long short and emerging market local currency strategies
    • Negative investment movement of $1.8 billion in the quarter
    • Positive FX movement of $1.2 billion in the quarter as the dollar weakened against Sterling, the Euro and Yen
    • Other movements of negative $0.6 billion
  • Completion of the $100 million share repurchase announced in October 2017
  • Intention to repurchase up to a further $100 million of shares; we continue to review further potential acquisition opportunities

Luke Ellis, Chief Executive Officer of Man Group, said:

“We are pleased to report an increase in funds under management in the first quarter to $112.7 billion, driven by net inflows of $4.8 billion. The ongoing interest in our range of strategies reflects our innovative offering and the strength of our client relationships. In particular, we continued to see client demand for our alternative risk premia strategies and saw flows returning to our European long short strategy, following a sustained period of improved performance.

The first quarter of 2018 was a weaker environment for equity markets and momentum strategies. While this impacted our absolute performance in some areas, outperformance across our long only and discretionary alternative strategies demonstrated the resilient and diversified nature of our business.

Looking forward we see continuing interest from clients, however, the institutional nature of our business means that flows are likely to be uneven on a quarter-to-quarter basis.”

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