UK investors are buying into Man Group

Investors in the UK have been buying Man Group shares again, according to figures from online broker TD Direct Investing.

The company was the second most bought share in the UK client buys table published by TDDI in the week ending 10 June.

Shares in Man slid by 17% after it reported losses of 11% since early May in its flagship hedge fund, TD Direct Investing said.

“TD clients traded the stock at a ratio of 3.4:1, as they appeared to take advantage of the lower share price, which closed at 94p on Monday 10 June.”

 

Man reported funds under management $54.8bn as of 31 March, in its interim statement for the quarter ended on that date. That was less than the FUM reported for 31 December of $57bn.

Net outflows in the quarter were reported as $3.7bn, “comprising sales of $2.5bn and redemptions of $6.2bn”.

Manny Roman, CEO, said at the time: “This was a disappointing quarter from a flows perspective with sales at a similar level to the previous quarter and increased redemptions, chiefly due to the loss of three sizeable low margin mandates.”

“Investment performance is the lifeblood of our business and in time we expect good performance to translate into flows. However, we remain cautious in our outlook as we will need a more sustained period of performance, particularly from AHL, before we see an improvement in net flows. We continue to make good progress against our key business priorities and the recently announced improvement in our capital position, together with our announcement today of the intended buyback of our debt securities, has delivered value for shareholders.”

 

 

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