Man reports positive year-end, assets up to $71 billion


Man Group has released its results for the financial year ended 31 March, which show better than expected profits and positive inflows taking total assets under management to around $70 million.

The firm has reported statutory profit before tax from its continuing operations of $324 million — ahead of its $280 million pre-close estimate thanks to strong investment performance in the last week of March and an adjustment to the GLG acquisition balance sheet. The firm made an adjusted profit before tax of $599 million, compared with $560 million for the previous year ending in March 2010.