Man Group Announces Boost In Assets Under Management

by Carla Johnson, Investors Offshore.com

13 January 2006

Man Group Plc, the world's largest listed hedge fund manager, announced yesterday that total funds under management have increased by an estimated $1.4 billion to $45.8 billion since the end of September 2005.

Man revealed in its Funds Under Management Statement for the third quarter of its financial year, which ends 31 March 2006, that sales in the three months to 31 December 2005 totalled $2.1 billion, of which Man's global launch, Man IP 220 Ltd, accounted for $0.9 billion.

Other private investor sales, mainly relating to open-ended funds, accounted for $0.4 billion. Institutional sales in the quarter were $0.5 billion.

According to the London-based firm, performance has added $0.6 billion to growth in assets, while currency and other adjustments added $0.1 billion.

Man said that $27.3 billion of assets under management were accounted for by private investors, up from $26.0 billion as at 30 September 2005. Institutional assets now total $18.5 billion, up from $18.4 billion on 30 September 2005.

Redemptions totalled $1.4 billion, of which private investor accounted for $0.7 billion.

The most recent global launch, Man BlueCrest Ltd, raised $320 million. However, the new fund is not due to start trading until late January and has not been included in Man's latest set of figures.

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