Man Group’s assets under management grew 36.6% in the last 12 months.
The U.K.-based hedge fund grew assets under management 8.1% to $78.8 billion during the first half of 2015, Pensions & Investments reports. The firm was helped by acquisitions, including Silvermine Capital, NewSmith, and Bank of America Merrill Lynch’s fund of hedge funds business, that contributed $6.1 billion in 2015. Another $3.8 billion can be attributed to performance.
The Man Group was hit with $2.6 billion in outflows between January and June 2015, compared to $2.8 billion in inflows during the same period in 2014. The firm’s CEO Manny Roman attributed some of the loss to second quarter volatility from Greece. The firm also had about $3.4 billion of net outflows from the Japan CoreAlpha strategy specifically, due to redemptions after strong performance, says Roman.
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