Man Group FUM up

Man Group's funds under management rose to $88.7bn at the end of March - uo from $80.9bn at the end of December.

The group had net inflows in the quarter of $3.0bn, driven by strong inflows into discretionary long only and fund of fund alternatives, and there was a positive investment movement of $2.2bn in the quarter.

Positive FX movements of $0.8min the quarter were primarily driven by the weakening of the US dollar against the Japanese yen, Australian dollar, and euro.

Chief executive Luke Ellis said: "The first quarter of 2017 has been a strong period for Man Group, with funds under management increasing by 10% to $88.7 billion and growth in each of our investment engines.

"We came into the year with a good pipeline of interest from clients, and that has resulted in net inflows of $3.0 billion in the first three months. Investment performance increased FUM by $2.2 billion for the quarter and the completion of the Aalto acquisition added a further $1.8 billion.

"Looking forward, the global environment has the potential to create alpha opportunities and we see continuing near-term interest from clients.

"However, it is important to recognise that this is only one quarter and, as we have said before, flows are likely to vary on a quarterly basis given the institutional nature of our business."