Man Group boss Manny Roman struck a downbeat note yesterday in the wake of this week’s market fall despite his firm reporting a fifth consecutive quarter of net inflows.
“We haven’t seen a Treasury market like this in 16 years,” he said.
“It should give everyone in the financial industry some pause in terms of what’s going on in the world. Markets remain very, very volatile with a lot of uncertainty.”
Roman said Man’s flagship fund, AHL, had a “very good day” on Wednesday in the face of the broad-based market sell off.
FTSE 250-listed Man saw $400m of net inflows over the quarter ending September – gaining $4.5bn (£2.8bn), but losing $4.1bn of investors’ cash – the fifth quarter in a row it attracted more business than it lost.
Overall assets under management grew by 25 per cent thanks to the group’s acquisition of US fund firms Numeric and Pine Grove earlier this year. Yet a strong dollar took its toll, shrinking assets by $2.9bn.