New York-listed GLG Partners has reported a GAAP-adjusted net loss of $60.8 million for the first quarter, equating to $0.27 per fully-diluted share. The non-GAAP-adjusted net loss was $3.1 million, or $0.01 per share.
Net assets under management rose during the quarter, up 6.7% to $23.7 billion from $22.2 billion at the end of December. This reflected inflows of $954 million and performance gains totalling $1.3 billion, versus a loss from currency translation of $753 million. Year on year, assets are up 68.7% from $14.0 billion.
During Q1, the majority of inflows were directed at GLG’s alternative strategies, including UCITS