LONDON, April 26 (Reuters) – London-listed hedge fund Man Group (EMG.L) reported greater than $1 billion of internet flows into its funds within the first quarter and a small improve within the worth of its belongings, over a interval that included world banking market turmoil in March.
Man Group mentioned its belongings beneath administration elevated 1% to $144.7 billion, whereas internet inflows from shoppers within the first three months of this 12 months got here in at $1.1 billion.
The corporate mentioned that optimistic foreign exchange results on its funds had been offset by “destructive performance-linked leverage actions” within the quarter.
Its absolute return technique was the most well-liked funding play throughout the interval, which noticed a pointy decline in broader investor sentiment sparked by the collapse of U.S. lender Silicon Valley Financial institution and the emergency rescue of Switzerland’s Credit score Suisse.
The unit drew internet inflows of $1.3 billion, whereas its general altnerative investments arm drew inflows of $1.6 billion. The corporate’s long-only arm noticed internet outflows of $0.5 billion.
Man Group’s CEO Luke Ellis informed an business convention final month that he anticipated additional banks to fail inside two years.
Regulators globally have mentioned their actions have stabilised the monetary system, whereas banking shares have broadly recovered for the reason that bout of volatility in March.
Reporting by Iain Withers, modifying by Sinead Cruise
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