Man Group today released its trading statement for the quarter ended 31 March 2017. The key points include:

·         Funds under management (FUM) of $88.7 billion at 31 March 2017 (31 December 2016: $80.9 billion)

·         Net inflows in the quarter of $3.0 billion, driven by strong inflows into discretionary long only and fund of fund alternatives

·         Positive investment movement of $2.2 billion in the quarter

·         Positive FX movements of $0.8 billion in the quarter, primarily driven by the weakening of the US Dollar against the Japanese Yen, Australian Dollar, and Euro

·         The acquisition of Aalto was completed on 1 January 2017, which added $1.8 billion of FUM

Luke Ellis, Chief Executive Officer of Man Group, said:

“The first quarter of 2017 has been a strong period for Man Group, with funds under management increasing by 10% to $88.7 billion and growth in each of our investment engines. We came into the year with a good pipeline of interest from clients, and that has resulted in net inflows of $3.0 billion in the first three months. Investment performance increased FUM by $2.2 billion for the quarter and the completion of the Aalto acquisition added a further $1.8 billion.

Looking forward, the global environment has the potential to create alpha opportunities and we see continuing near-term interest from clients. However, it is important to recognise that this is only one quarter and, as we have said before, flows are likely to vary on a quarterly basis given the institutional nature of our business.”