Performance

Man Group shares drop despite better first-quarter results

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There has been no respite for Man Group’s beleaguered share price this week as the world’s largest quoted alternative asset manager’s latest quarterly update was received poorly in a market that is increasingly concerned over the group’s performance and prospects.

Although Man reported a small rise in assets under management, a decline in net outflows and positive investment performance across most of its funds in the first three months of 2012, the share price fell below 100p – only just above its 52-week low of 92p – amid widespread talk among analysts of a possible management change or