Man Group, the beleaguered publicly-quoted asset management
firm, has finally been able to announce a reversal in the long
decline in its total funds under management - but only thanks
to its recent acquisition of fund of funds group FRM.
In an interim management statement for the quarter ended 30
September, Man said its funds under management at the end of
September were $60 billion - up by some 14% since the end of
However, pretty much all of the uplift was due to the FRM
acquisition - which closed in mid-July and has added $8.3
billion in assets under management to the...