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Man Group Assets Up In Q1

Listed hedge fund Man Group’s assets has risen over 3% in the first three months of the year bringing total assets to $112.7bn, according to its trading statement for the first quarter of the year.

The largest listed hedge fund globally received $4.8bn in net inflows in Q1, with outperformance from long only and discretionary alternative strategies. This outperformance was enough to offset poor performance in equity and momentum strategies.

Luke Ellis, CEO of Man Group, said in a statement: “We continued to see client demand for our alternative risk premia strategies and saw flows returning to our European long short strategy, following a sustained period of improved performance….The first quarter of 2018 was a weaker environment for equity markets and momentums strategies.”

The biggest losses for the first three months included the Man GLG Undervalued Assets Fund which lost 4% and the MAN GLG Japan Core Alpha Equity Fund which lost 6.9%. Total losses for the hedge fund in the first quarter stood at $1.8bn.

While the rise in assets is lower than the same period last year, the uptick in assets is good news for the hedge fund, which saw markets suffer in February when volatility returned at a level not seen since 2011. Alpha Week previously reported that hedge funds were down in February as a result of violent volatility.

On 5th February the DJ Industrial Average dropped 4.6% in one day, its biggest day drop for seven years. The S&P 500 fell nearly 4% in February, while the VIX index jumped 47%. It prompted a huge sell-off, which spurred volatility. 

Ellis added: “Looking forward we see continued interest from clients, however, the institutional nature of our business means that flows are likely to be uneven on a quarter-to-quarter basis.”