Man Group (LSE:EMG) reported assets under management of $228.7 billion for the first quarter, coming in about 1% below analyst expectations of $231.3 billion, as the firm recorded net outflows of $1.6 billion compared with forecasts for $1.8 billion in inflows.
The asset manager experienced withdrawals across both its Alternatives and Long-Only businesses, with net outflows of $1.0 billion and $0.6 billion, respectively.
In the Alternatives segment, Absolute Return strategies saw $1.1 billion in outflows, while Multi-Manager products recorded $0.8 billion in redemptions. These were partly offset by $0.9 billion of inflows into Total Return strategies.
Within Long-Only, Discretionary strategies brought in $2.6 billion of new money, but Systematic Long-Only strategies faced $3.2 billion in outflows.
The decline in Systematic Long-Only assets was largely driven by a single client withdrawing roughly $6 billion. The company said this move reflected an asset allocation decision rather than dissatisfaction with performance. Excluding this redemption, Long-Only flows would have been positive overall.
By the end of the period, Alternatives assets stood at $106.4 billion, including $44.1 billion in Absolute Return, $48.3 billion in Total Return, and $14.0 billion in Multi-Manager strategies. Long-Only assets totaled $122.3 billion, with $72.4 billion in Systematic strategies and $49.9 billion in Discretionary mandates.
Investment gains added $3.1 billion to AUM during the quarter, while foreign exchange movements and other factors reduced assets by $0.4 billion.
At a strategy level, Solutions and Risk Premia saw increases of $1.6 billion and $0.8 billion, respectively, while Private Credit assets rose by $0.5 billion.
Elsewhere, Discretionary Long-Only Equity and Long-Only Credit expanded by $0.5 billion and $1.6 billion, respectively. Systematic Long-Only Equity assets fell by $4.1 billion, reflecting the impact of the large client redemption.
More about Man Group
Man Group is a global investment management firm specializing in alternative and long-only strategies. The company offers a wide range of solutions across asset classes, including equities, credit, multi-asset, and private markets, serving institutional and retail investors worldwide.
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