2018 trading round-up: Man shares fall 4% as 'difficult year' causes drop in performance fees

Quarterly trading update

The last quarter of 2018 has been a difficult one for UK asset and wealth managers, with concerns over a global slowdown, Brexit fears and jittery markets hitting inflows. Here, Investment Week collates all the quarterly trading updates from firms in the industry.

Man Group Man Group shares dropped 4.1% in early morning trading on Friday after the firm reported a drop in performance fees last year in its annual results. The firm saw performance fees fall 63% to $122m for the year while funds under management (FUM) dropped $600m to $108.5bn. The fall in FUM was driven by negative investment movement of $7.7bn and negative FX movement of $3.7bn. Net inflows were slightly down from the inflows 2018, at $10.8bn in 2018 compared to $12.8bn the previous year. Luke Ellis, CEO of Man, branded 2018 as a "difficult year for the asset management i...