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Man Group funds under management rise to record in 2020 on swing to net inflows
StockMarketWire.com
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Investment management company Man Group reported said funds under management rose to a record levels in 2020, following a return to positive net cash flows.
For the year ended 31 December, funds under management rose to $123.6 billion from $117.7 billion year-on-year as net inflows were $1.8 billion, compared with outflows of $1.3 billion in 2019,
The increase in funds under management was largely due to 'positive absolute performance of $3.3 billion across both alternative and long-only strategies and net inflows of $1.8 billion, with inflows relative to peers of 4.6%, the company said.
The company recommended a final dividend of 5.7 cents per share for the financial year to 31 December 2020, giving a total dividend of 10.6 cents per share for the year, up from 9.8 cents last year.
Looking ahead, the company said net inflows had continued into 2021.
'We are confident in our growth trajectory and enter the year with good momentum, with the combination of our talented team and leading technology driving our strong competitive position,' it added.
At 9:34am: (LON:EMG) Man Group PLC share price was 0p at 116.4p
Story provided by StockMarketWire.com
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