Man Group suffers $5.5bn net outflow after large client redemption
$7bn withdrawal from a single client had been flagged in Man Group’s half-year results in July
$7bn withdrawal from a single client had been flagged in Man Group’s half-year results in July
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The firm’s wealth management arm saw net outflows of £891m, while asset management achieved inflows of £67m
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Gross flows for Q3 came in at £4.4bn, 20% higher than over the same period last year
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Current CEO of private markets Laura Mason will take on the role as Bernie Hickman exits
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Net outflows for Q1 stood at £0.1bn, representing 0.7% of funds under management
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Core net inflows of £1.5bn, representing 5% of opening assets under management and advice
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Full half-year results to be released on 13 November
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Total outflows increased to £2.1bn in the first half of its financial year
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Private equity takeover moves closer to completion
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LIFT is headquartered in Greater Manchester, with offices in London and Edinburgh
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Firm will acquire £800m of mostly institutional assets from the London-based boutique
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Investment professionals and support staff at Cantab will keep existing roles
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