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Man Group reports higher funds under management in Q3 amid 'robust' net inflows
StockMarketWire.com
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Fund management group Man reported an uptick in third-quarter funds under management thanks to 'robust' net inflows.
Funds under management stood at $113.1 billion at 30 September 2020, up from $108.3 billion seen in the June quarter.
Net inflows grew $1.7 billion to $72.4bn, Investment performance was up $1.7 billion and FX and other impacts were up $1.4 billion.
Positive investment performance was largely driven by its long-only strategies.
Growth in FuM was driven by 'robust net inflows into alternatives as anticipated, as well as performance gains across both alternative and long-only strategies,' the company said. 'Engagement with clients remains good, although there is increasing uncertainty due to upcoming political events and current Covid-19 trends.'
Story provided by StockMarketWire.com
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