Man Group has reported internet inflows of $900m (£699m) in the course of the first six months of the 12 months, thanks partly to the robust efficiency of its personal credit score technique.
The funding supervisor stated that these internet inflows had been 1.8 per cent forward of trade averages.
Man Group’s funding efficiency was $11.1bn within the six months ending 30 June, 2.1 per cent greater than its friends. The agency additionally reported a rise in belongings below administration (AUM), from $167.5bn on 31 December 2023, to $178.2bn by 30 June 2024.
The agency stated that its robust financials had been resulting from good progress in its multi-year strategic priorities, which embody liquid credit score methods. The corporate added that its US direct lending enterprise is continuing in step with expectations.
Learn extra: Man Group makes new personal credit score rent
“Now we have began the 12 months strongly, delivering for our shoppers in a market surroundings pushed by the evolution of ahead rates of interest, expectations of technological disruption, and the result of elections globally,” stated Robyn Grew, chief government officer of Man Group.
“We generated funding efficiency of $11.1bn, with a broad vary of our methods contributing.
“For context, our flagship multi-strategy various providing gained 13.3 per cent. We had been additionally happy to report internet inflows of $0.9bn throughout one other difficult interval for asset elevating within the trade.
“We ended June with AUM of $178.2bn, and delivered core revenue earlier than tax of $257m within the first half.”
Learn extra: Man Group sees $1.6bn outflows in Q1
“At first of 2024 we outlined our multi-year strategic priorities,” added Grew.
“We purpose to additional diversify our funding capabilities, notably in quant fairness, credit score and options; to increase our shopper attain, with a specific emphasis on North America, wealth and insurance coverage channels; and to leverage our present strengths and scale. These usually are not in a single day wins, however we’re happy with the progress we’ve got made already and can proceed to execute on these goals.
“Whereas the institutional nature of our enterprise can lead to some variability in brief time period internet flows, our enterprise is in nice form going into the second half of the 12 months.
“We provide a diversified vary of funding methods and options, underpinned by our high-quality expertise and cutting-edge know-how, which might be extremely related to our shoppers as they attempt to grapple with unstable markets. I’m assured that we’ll proceed to ship for them.”
Learn extra: Man Group seems to be to stability liquidity extra between managers and traders
