Friday 12 October 2018 9:39 am

Asset management firm Man Group announces boosted inflows and opens Jersey holding company


Man Group, the worlds largest listed asset management firm, has reported an increase in funds under management in a trading update today. 

The fund saw net inflows of $0.4bn (£0.3bn) in the three months to the end of 30 September, it announced today, as it also revealed its intention to open a new group holding company in Jersey.

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The new company will not impact the firm's London business operations, it said, with shares and tax residency remaining  in the UK.

Man Group also revealed it is expecting to generate net proceeds of $130m from the sale of investment manager Nephila to insurer Markel in the next quarter. 

Man Group chief executive Luke Ellis said: "Funds under management were slightly up in the quarter with net inflows of $0.4bn, despite the previously announced $2.2bn infrastructure mandate redemption.

"Positive investment movements offset negative FX and other movements. We saw continuing inflows into our alternative risk premia strategies and strong flows into our systematic equity strategies.

"Investment performance in the quarter was mixed with strong absolute and relative performance in our momentum and discretionary long only strategies but weaker relative performance in our discretionary alternative and systematic equity strategies.

"Looking forward, Man Group is well positioned, with strong fundamentals, and we remain focused on enhancing our technology platform and continuing to develop innovative strategies for our clients."

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