Man Group assets under management hit record after 17.5% jump in first half
Adds share price, CEO comment, industry detail; paragraphs 3,6, 8-10
By Tom Wilson
LONDON, July 26 (Reuters) -Assets managed by hedge fund Man Group EMG.L jumped to a record $178.2 billion in the first half of 2024, with the company citing growth in its liquid credit strategies and solid U.S. direct lending.
The performance in the six months to the end of June, which beat the expectations of 10 analysts with an increase of 17.5% over the then-record $151.7 billion the company oversaw at the end of June 2023.
Man Group's shares rose as much as 2.5% on the results.
The London-listed company, which makes money from management fees, posted a six-month core net management fee revenue of $551 million, 19.7% up from $460 million in June last year.
"We have started the year strongly, delivering for our clients in a market environment driven by the evolution of forward interest rates, expectations of technological disruption, and the outcome of elections globally," said Robyn Grew, Man Group's chief executive.
Grew cited a prevailing narrative in the first half of the year of a "Goldilocks" economy, "neither too hot to prolong interest rates at recent highs, nor too cold to hinder growth".
The firm recorded net inflows of $900 million for 2024, down 65% from a year earlier.
Hedge fund performance has been mixed this year as election and political risks surged in Asia, Europe and the United States and central banks take a diverse approach to fighting inflation.
Data firm Hedge Fund Research's (HFR) weighted hedge fund index returned 4.97% to the end of June, underperforming benchmark indices such as the MSCI All Country World Index .MIWD00000PUS, which was flat on Friday.
Trend-following peers of Man Group tracked by Societe Generale were up roughly 9% for the year ending in June.
Reporting by Tom Wilson; Editing by Amanda Cooper and Clarence Fernandez
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。