Man Group saw a $4.5bn hit to its assets under management in the three months to the end of September due to negative FX impact, but this was partially offset by solid investment performance from its absolute return portfolios.
In a trading update made today (19 October), Man Group said the negative FX impact was "primarily from US dollar strength" and added that it was "partially offset by performance-linked leverage movements". The FX impacts were felt most in its total return strategies and discretionary long-only strategies which each saw a $1bn drop in assets. Systematic long-only strategies and absolute return strategies fell $800m and $400m respectively. Quilter AuMA drops 2% as net inflows slow The absolute return strategies were the standout performers for the firm with an asset gain of $1.6bn. ...
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