Man Group Q3 outflows hit $5.5bn, AuM falls

17th Oct 2024 08:06

(Sharecast News) - Investment management group Man Group posted Q3 outflows of $5.5bn on Thursday, worse than the $5.1bn it had forecast, after one of its clients withdrew its funds in order to invest passively.

Man Group also said assets under management fell to $174.9bn as of 30 September, down from $178.2bn a year earlier, principally due to outflows related to a single client in its systematic long-only strategies fund.

As of 0900 BST, Man Group shares were down 2.43% at 208.60p.

Reporting by Iain Gilbert at Sharecast.com