LONDON (Reuters) – Hedge fund Man Group posted a rise in assets under management to a record $178.2 billion in the six months to end-June, beating analyst expectations, with the company citing growth in its liquid credit strategies and U.S. direct lending proceeding in line with expectations
This marked an increase of 17.5% from the $151.7 billion the company oversaw at the end of June 2023, which at the time, was a record high.
The London-listed company, which makes money from management fees, posted a six-month core net management fee revenue of $551 million, 19.7% up from $460 million in June last year.
“We have started the year strongly, delivering for our clients in a market environment driven by the evolution of forward interest rates, expectations of technological disruption, and the outcome of elections globally,” said Robyn Grew, Man Group’s chief executive.
The firm recorded net inflows of $900 million for 2024, down 65% against a year earlier.
(Reporting by Tom Wilson; Editing by Amanda Cooper)
Comments