Man Group shares tumble as assets drop by $6 billion in Q2


Man Group has seen a $6 billion decline in assets under management over the past three months, thanks to a combination of investor redemptions and performance losses across its wide stable of funds.

A pre-close trading update for the six months to 30 September estimates current AUM to be $65 billion, compared with $71 billion at the end of June – a drop of more than 8%.

In the most recent quarter, net redemptions amounted to $2.6 billion and negative performance took off $1.5 billion, while foreign exchange moves further negatively affected funds under management to the tune