Man Group sees surge in profits and FUM for 2014

Man Group, one of the largest alternative investment managers, has announced a 62% increased in its adjusted profit before tax in 2014.

The firm attributes the increase in profits, which rose to $481 million (€424 million), to higher performance fees and cost savings, including a decrease in management fees.

Man Group also recorded an increase of 35% in funds under management (FUM), which grew to $72.9 billion according to the results for the year ended December 31, 2014.

The boost in FUM was driven by the acquisition of two US-based companies during 2014 – Numeric, a quant manager, and Pine Grove, a fund of fund credit manager – adding $16.2 billion to the firm’s FUM total.

Man Group’s net inflows for the year stood at $3.3 billion, marking a turn around from net outflows of $3.6 billion during 2013.

The firm also announced the intention to repurchase $175 million of shares.

Manny Roman, chief executive officer of Man, says: “2014 marked a year of progress for the group with strong performance at AHL [computer-run strategies], a full year of net inflows, the completion of the restructuring programme ahead of schedule and several key acquisitions and hires that have materially enhanced our investment capabilities and our North American business.”

He adds that a slowdown in sales across discretionary strategies and ongoing market volatility have ensured the firm remains cautious in its near-term outlook, but continues to pursue steady growth over time.

©2015 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

LATEST SURVEY

Visit our dedicated Ireland channel for all the latest news and analysis on the country's investment industry.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST