AGM Statement

RNS Number : 7439Y

Man Group plc

10 July 2008

 



MAN GROUP PLC

AGM AND QUARTERLY FUNDS UNDER MANAGEMENT STATEMENT 

10 July 2008 

Jon Aisbitt, Chairman of Man Group, will make the following comments at today's Annual General Meeting. 

AGM Statement 

'Demand for our fund products has remained strong, both from private investors and institutions, with sales in our first quarter to 30 June 2008 totalling $5.0 billion.  This success in asset raising reflects the Group's broad geographic presence and the continued attraction of conservatively structured alternative investment products. We have also benefited from reduced redemption rates in the quarter which, combined with positive performance across our core investment managers, has increased Group funds under management from $74.6 billion at 31 March 2008 to $79.5 billion at 30 June 2008. 

With the continued expansion of our sales network and our product range, the Board remains confident of the Group's prospects for the year.' 

First Quarter FUM Statement 

Sales for the three months to 30 June 2008 were $5.0 billion. The three months sales comprised guaranteed products which accounted for $2.2 billion; open-ended private investor sales for $1.3 billion; and institutional sales for $1.5 billion.  Funds under management have risen to $79.5 billion at 30 June 2008, up from $74.6 billion at 31 March 2008. The split of funds under management is private investor $48.3 billion (31 March 2008: $43.5 billion) and institutional $31.2* billion (31 March 2008: $31.1 billion). 

For the three months ended 30 June 2008, overall product performance was positive, with AHL** up 3.8%, Glenwood** up 2.4%, Man Global Strategies** up 1.7% and RMF** up 2.5%.  Redemptions for the three months to 30 June 2008 totaled $2.5 billion, of which private investor were $1.5 billion. Positive investment movement was around $1.7 billion with FX and other movements* adding $0.7 billion. 

*Within other movements, the impact of the 50% disposal of Pemba net of the 50% acquisition of Ore Hill is to reduce institutional funds under management by $0.6bn.

**As represented by the performance of Athena Guaranteed Futures Limited, Man-Glenwood Multi-Strategy Fund Limited, Man Multi-Strategy Guaranteed Ltd and RMF Absolute Return Strategies I in the three months to 30 June 2008. All performance figures are estimates except for Athena Guaranteed Futures Limited. 

Enquiries

David Browne

Head of Group Funding & External Relations

[phone]

[e-mail]

Miriam McKay

Head of Investor Relations

[phone]

[e-mail]

Merlin PR

Paul Farrow

[phone]

Toby Bates

[phone]

About Man Group plc 

Man is a world-leading alternative investment management business. With a broad range of fund products for institutional and private investors globally, it is known for its performance, innovative product design and investor service. Man manages over $75 billion and employs 1,600 people in 13 countries worldwide. 

The original business was founded in 1783. Today the parent company, Man Group plc, is listed on the London Stock Exchange. It is ranked in the top 40 companies of the FTSE 100 Index with a market capitalisation of about $20 billion.

Man supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes and the Man Group International Climate Change Award. Further information can be found at www.mangroupplc.com.

 

END

 

 

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