Man Group reports US$500 million first-quarter net inflows

[LONDON] Man Group Plc, the world's largest publicly traded hedge-fund firm, reported net inflows of US$500 million in the first quarter as its computer-driven funds attracted investors.

Sales of US$5.1 billion more than offset US$4.6 billion in redemptions, the London-listed firm said in a statement on Friday. Asset under management marginally fell to US$78.6 billion from US$78.7 billion at the end of December.

"Investment performance across our quantitative strategies and net inflows meant that group funds under management remained stable over a highly volatile quarter," Chief Executive Officer Manny Roman said in the statement.

"The ongoing uncertainty in the markets remains challenging and, accordingly, the risk appetite of our clients has the potential to impact flows."

Hedge funds ended the first quarter down 0.8 per cent, recovering from deeper losses in the first two months of the year as equity and commodity markets rebounded, according to Hedge Fund Research Inc.

Man Group's shares have fallen almost 14 per cent this year, compared with a drop of about 18 per cent in the STOXX Europe 600 Banks index.

BLOOMBERG