Outflows and negative performance drive down Man GLG's FUM in Q1

Wider Man Group remains in the black

Man GLG has suffered outflows in the first three months of the year as some of its strategies underperformed, with funds under management dropping 8.5% over the period, but the wider Man Group remained resilient.

In its results released this morning, Man Group reported overall net inflows of $500m during the quarter, with particularly strong flows seen across its quant strategies. Quant alternative saw $1.3bn in net sales, while quant long only strategies enjoyed inflows of $400m. This, however, was partially offset by outflows of $1.1bn from discretionary alternatives and discretionary long only products, under its Man GLG arm, and $100m from guaranteed products, as well as negative investment movement of $700m. As a result, funds under management were slightly lower than at the end of the ye...