Man Group retains caution on first-half flows

In the first quarter of 2015 Man Group saw a 7% increase in its funds under management (FuM) to reach $78.1bn.

All of the company's managers saw positive investment performance, adding $4.3bn to the firm’s FuM, the company said in its trading statement.

The acquisition of Silvermine, completed on 24 January added $3.8bn to the company’s FuM. That came alongside another $0.8bn in positive movements.

However, net outflows in the period reached $1.3bn.

Man Group also experienced $2bn in negative impacts from movements in foreign exchange markets, driven by the strengthening US dollar.

The acquisitions of the NewSmith fund and BAML fund of funds contributed a further $2.4bn of monies under management, taking current FuM to a total of $82bn while increasing the outfit’s footprint in the US.

We retain a degree of caution on the outlook for first half flows, Man Chief Manny Roman said.

However, he added that: “Our flows in Q1 reflect a natural lag between better investment performance and higher sales. As we have commented previously, our business is now more institutional in nature, with larger individual mandates causing greater variation in flows on a quarterly basis.”