LONDON LONDON, July 10 (Reuters) - Man Group Plc, the world's biggest listed
hedge fund company, said demand for its fund products had remained strong in the
first quarter and it was confident about its prospects for the full year.
Sales in the three months to June 30 were $5.0 billion while funds under
management increased to $79.5 billion from the $74.6 billion seen at the end of
March.
"Demand for our fund products has remained strong, both from private
investors and institutions," Chairman Jon Aisbitt said in a statement prepared
for the annual shareholder meeting on Thursday.
"This success in asset raising reflects the group's broad geographic
presence and the continued attraction of conservatively structured alternative
investment products," he added.
In May, the company reported a 60 percent increase in annual profit as
growth in funds under management fuelled record fees, helping it to ride out
turbulent financial markets.
Shares in Man Group closed at 589.50 pence on Wednesday, valuing the company
around 9.7 billion pounds ($19.1 billion).
(Reporting by Mike Elliott; Editing by David Cowell)
($1=.5068 Pound)
tf.TFN-Europe_newsdesk@thomsonreuters.com
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