GLG long-only funds help boost assets 47%

GLG Partners' AUM grew by 47.4% last year, aided by strong gains for its long only funds.

At the end of last year, GLG ran $22.2bn compared to $15bn at the end of 2008. GLG reported net inflows of $3.2bn last year, including $2.6bn it gained through buying SGAM UK in April. Investment performance added $2.9bn more, and currency fluctuations added another $1bn. It is quite a turnaround from 2008, when the group lost $1.3bn through net redemptions, suffered $7.6bn of net investment losses and a $695m decline in assets because of FX moves. Noam Gottesman, GLG chairman and co-chief executive, says: "We delivered strong performance for our investing clients, achieving dol...