The firm attracted record inflows of $9bn during the second quarter of this year, though this figure nets down to $3.7bn as it also saw outflows of $5.3bn. It blamed “challenging market conditions” for its flagship AHL Diversified being down 0.6%, a fall of 12% from its peak on a weighted average basis.
AHL Diversified remains defensively positioned in bonds but has significantly reduced its short exposure to equities.
Looking at the inflows, Man Group’s alternative funds brought in $4.1bn while its long only strategies saw an outflow if $0.4bn.
At the end of last year, the firm completed the integration of its GLG acquisition and is starting to roll out products that combine the best strategies of each.
Sales of open-ended alternatives hit a record $6.2bn, against redemptions of $2bn. These figures include AHL sales of $2.9bn globally and GLG sales that grew to $3.3bn in its equity long/short and emerging market strategies.
Man Group’s investment performance saw a negative $1.1bn on assets under management compared to Q1 while overall funds grew to $71bn from $69.1bn at the end of March.
