Man Group shares jump as it reveals £2.56bn of inflows

Better than expected performance greeted enthusiastically by investors


Man Group shares jumped in morning trading after the hedge fund firm reported net inflows of $3.1bn (£2.56bn).

The healthy amount of new money coming in was not enough to offset falls in asset values though, with the firm seeing total assets under management dip 4% to $143bn (£118bn) versus a year ago.

This small drop represented a strong year for the firm relative to peers, particularly given the huge sell-offs in financial markets during 2022.

The better than expected performance was greeted enthusiastically by investors, with shares in the firm trading up 8% to 265p by mid-morning on Tuesday (28 February).

Other notable figures reported by the group included core revenue of $1.7bn (£1.4bn), profit before tax of $779m (£643m) and earnings per share of 48.7 cents (40p).

“Our unwavering focus on building strong client relationships globally, together with the range of innovative investment strategies and solutions we offer, resulted in net inflows of $3.1bn during the year,” said CEO Luke Ellis. “This was despite clear headwinds elsewhere in the asset management industry.”

“In 2022, allocators rediscovered the value that liquid alternatives can bring, providing uncorrelated returns to investors in a difficult year and delivering much needed liquidity within their portfolio.”

Man Group also announced the chair of its board John Cryan is retiring at the end of this year. He will be replaced by Anne Wade, who has been a non-executive director since 2020.

Ellis said: “It has been a pleasure to work with John over the years. He has a real breadth of corporate experience and his perspectives have been incredibly valuable to me and to the company. On behalf of everyone at Man Group, I wish him well for the future.

“The strategy for the company remains unchanged as we continue to strengthen our business for the benefit of our clients, shareholders and stakeholders. We are delighted that Anne will be taking on the role of chair. She has already been a great contributor on the board and we look forward to continuing to draw on her extensive experience in the years to come.”

Dame Katharine Barker will step down as a non-executive director of the company this April, having served since 2017.


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