Man Group has reported web inflows of $900m (£699m) throughout the first six months of the yr, thanks partially to the robust efficiency of its non-public credit score technique.
The funding supervisor stated that these web inflows have been 1.8 per cent forward of trade averages.
Man Group’s funding efficiency was $11.1bn within the six months ending 30 June, 2.1 per cent larger than its friends. The agency additionally reported a rise in property underneath administration (AUM), from $167.5bn on 31 December 2023, to $178.2bn by 30 June 2024.
The agency stated that its robust financials have been as a result of good progress in its multi-year strategic priorities, which embody liquid credit score methods. The corporate added that its US direct lending enterprise is continuing according to expectations.
Learn extra: Man Group makes new non-public credit score rent
“We’ve got began the yr strongly, delivering for our purchasers in a market atmosphere pushed by the evolution of ahead rates of interest, expectations of technological disruption, and the result of elections globally,” stated Robyn Grew, chief govt officer of Man Group.
“We generated funding efficiency of $11.1bn, with a broad vary of our methods contributing.
“For context, our flagship multi-strategy different providing gained 13.3 per cent. We have been additionally happy to document web inflows of $0.9bn throughout one other difficult interval for asset elevating within the trade.
“We ended June with AUM of $178.2bn, and delivered core revenue earlier than tax of $257m within the first half.”
Learn extra: Man Group sees $1.6bn outflows in Q1
“In the beginning of 2024 we outlined our multi-year strategic priorities,” added Grew.
“We purpose to additional diversify our funding capabilities, notably in quant fairness, credit score and options; to increase our consumer attain, with a selected emphasis on North America, wealth and insurance coverage channels; and to leverage our current strengths and scale. These are usually not in a single day wins, however we’re happy with the progress now we have made already and can proceed to execute on these goals.
“Whereas the institutional nature of our enterprise can lead to some variability briefly time period web flows, our enterprise is in nice form going into the second half of the yr.
“We provide a diversified vary of funding methods and options, underpinned by our high-quality expertise and cutting-edge know-how, which can be extremely related to our purchasers as they attempt to grapple with risky markets. I’m assured that we are going to proceed to ship for them.”
Learn extra: Man Group seems to stability liquidity extra between managers and traders