Man Group boasted $900m in net inflows in the first half of 2024, setting a new record for the firm as a surge in core performance fees provided a hefty profit boost.
According to its half-year results published today (26 July), the world's largest listed hedge fund ended the first half of this year with a fresh record $178.2bn in assets under management, up from $151.7bn a year prior. The FTSE 250 firm saw $2.5bn in net inflows during the second quarter, reversing the previous two quarters of outflows. Both AUM and flows beat analyst expectations, which had projected $600m in net outflows and $177.9bn in AUM for the period. Statutory profit after tax reached $164m, up from $83m in the first half of 2023, representing a 97.6% increase. Revenues in...
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