At the end of March 2011, Man Group held $69.1bn in assets under management; funds under management at the end of March this year are $58bn according to an interim management statement from the company. At the end of 2011, the equivalent figure was $58.4bn.
The same statement also refers to reduced net outflows – but net outflows all the same – of $1bn, the net result of sales of $3.1bn and redemptions of $4.1bn.
Man Group’s alternative strategies saw net redemptions of $0.9bn ($1.7bn of sales compared to $2.6bn of redemptions) with $0.7bn outflows from AHL alone, driven mainly by continuing redemptions from Nomura Global Trend.
In terms of investment performance, AHL Diversified was up 0.8% in the first three months of 2012, though it is still 14% below its peak on a weighted average basis.
Peter Clarke, chief executive of Man, said: “After a strong start to the year, markets came back under pressure in March and drove greater dispersion in investment performance across our industry.”
He added: “Performance at AHL turned negative as markets reversed. Against this backdrop, redemptions reduced but investor sentiment remained fragile and we are yet to see an increase in sales.”
