Poor AHL performance hits Man Group results


Man Group’s pre-close trading update ahead of its full result announcement for the financial year ended 31 March 2010 shows that funds under management are continuing to slide while pre-tax profits have also fallen steeply.

The trading update estimates funds under management at year-end to be $39.1 billion – compared with $42.4 billion at the end of December 2009 and $46.8 billion at the end of the previous financial year on 31 March 2009.

Man said fourth-quarter sales had remained subdued at an estimated $1 billion, while redemption levels had been stable with outflows of around $2.5 billion in the