Man Group continues to fight against fund outflows


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 June.

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