DAVID MCCANN | NUMIS
"Flows, performance and fees were weaker than expected in the first half, but we remain positive on the stock as we believe the combined Man/GLG could become one of the most powerful forces in both product and distribution in the alternatives space, in which we expect structural growth in the future."
NIC CLARKE | CHARLES STANLEY
"This is the eighth quarter in a row of net client withdrawals, as investors continue to react to the poor performance of AHL in 2009. However, AHL has performed well compared to the markets this year and the acquisition of GLG should offer Man a broader range of products to market when the deal is completed."
JONATHAN JACKSON | KILLIK & CO
"We believe the long-term proposition of alternative investment strategies is positive. The performance of Man’s AHL fund has improved and, in time, this will lead to the generation of high margin performance fees and growth in assets under management.The acquisition of GLG provides the opportunity to make greater use of the group’s spare capacity in distribution."