TIDMEMG
RNS Number : 5920Q
Man Group plc
19 October 2023
Press Release
19 October 2023
TRADING STATEMENT FOR THE QUARTERED 30 SEPTEMBER 2023
Assets under management (AUM) of $161.2 billion as at 30
September 2023 (30 June 2023: $151.7 billion).
AUM movements
AUM at AUM at
30 Jun 2023 Investment FX & other 30 Sep
$bn Net flows performance (1) 2023
---------------------- ------------- ---------- ------------- ----------- --------
Absolute return 47.3 1.1 0.4 (0.8) 48.0
Total return 29.4 0.0 (0.3) 10.5 39.6
Multi-manager
solutions 20.3 (0.4) 0.2 0.2 20.3
---------------------- ------------- ----------
Alternative 97.0 0.7 0.3 9.9 107.9
---------------------- ------------- ---------- ------------- ----------- --------
Systematic long-only 35.7 (0.5) (0.7) (0.5) 34.0
Discretionary
long-only 19.0 0.5 0.5 (0.7) 19.3
---------------------- ------------- ----------
Long-only 54.7 0.0 (0.2) (1.2) 53.3
---------------------- ------------- ---------- ------------- ----------- --------
Total 151.7 0.7 0.1 8.7 161.2
---------------------- ------------- ---------- ------------- ----------- --------
AUM by product category
$bn 30 Sep 31 Dec 31 Mar 30 Jun 30 Sep
2022 2022 2023 2023 2023
---------------------------------- ------ ------ ------ ------ ------
Absolute return 49.0 46.0 44.7 47.3 48.0
---------------------------------- ------ ------ ------ ------ ------
Man Institutional Solutions(2) 12.5 14.4 13.4 14.7 15.5
AHL Alpha 11.6 7.7 8.2 9.0 8.8
AHL Dimension 6.1 5.9 5.4 6.0 5.8
AHL Evolution 5.5 5.4 5.1 5.3 5.4
GLG equity 4.7 4.9 4.9 4.7 4.5
AHL Diversified 1.6 1.5 1.3 1.4 1.3
Other(3) 7.0 6.2 6.4 6.2 6.7
---------------------------------- ------ ------ ------ ------ ------
Total return 29.0 28.8 29.4 29.4 39.6
---------------------------------- ------ ------ ------ ------ ------
AHL TargetRisk 13.9 13.4 13.7 13.2 12.4
US private credit - - - - 10.7
Alternative Risk Premia 7.6 7.8 8.3 8.9 9.2
CLOs and other 3.7 3.9 3.6 3.5 3.7
Global Private Markets 3.0 3.0 3.2 3.2 3.1
Emerging markets fixed
income 0.8 0.7 0.6 0.6 0.5
---------------------------------- ------ ------ ------ ------ ------
Multi-manager solutions 19.8 20.2 20.0 20.3 20.3
---------------------------------- ------ ------ ------ ------ ------
Infrastructure & direct
access 12.9 12.7 12.5 12.7 12.8
Segregated 6.2 6.9 6.9 7.0 6.9
Diversified and thematic
FoHF 0.7 0.6 0.6 0.6 0.6
---------------------------------- ------ ------ ------ ------ ------
Systematic long-only 25.8 31.6 33.0 35.7 34.0
---------------------------------- ------ ------ ------ ------ ------
Global equity 12.8 16.9 17.5 19.2 18.4
Emerging markets equity 5.8 6.4 6.7 7.7 7.3
International equity 6.2 7.1 7.5 7.5 7.1
US equity 1.0 1.2 1.3 1.3 1.2
---------------------------------- ------ ------ ------ ------ ------
Discretionary long-only 14.8 16.7 17.6 19.0 19.3
---------------------------------- ------ ------ ------ ------ ------
Credit and convertibles 4.3 5.2 5.7 6.6 6.6
Japan equity 3.6 4.1 4.3 4.8 5.3
UK equity 3.3 3.8 3.9 3.9 3.8
Europe ex-UK equity 1.2 1.3 1.3 1.3 1.2
Emerging markets fixed
income 1.2 0.9 1.0 1.0 0.9
Other(4) 1.2 1.4 1.4 1.4 1.5
---------------------------------- ------ ------ ------ ------ ------
Total 138.4 143.3 144.7 151.7 161.2
---------------------------------- ------ ------ ------ ------ ------
Investment performance
Return (net of fees) Annualised return (net of fees)
---------------------------- ------------------------------------------------------
3 months to 9 months to 3 years to 5 years to Inception to 30 Sep
30 Sep 2023 30 Sep 2023 30 Sep 2023 30 Sep 2023 2023
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
Absolute return
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
AHL Alpha 5 1.0% 3.0% 8.3% 7.5% 10.3%
AHL Dimension 6 -0.9% 2.7% 6.0% 3.8% 4.7%
AHL Evolution 7 4.3% 2.7% 9.8% 8.3% 12.0%
AHL Diversified 8 0.4% 1.3% 9.3% 8.4% 10.5%
GLG Alpha Select
Alternative 9 1.6% 7.0% 6.9% 6.6% 4.9%
GLG Event Driven
Alternative 10 3.2% 4.6% 6.2% - 6.6%
GLG Global Credit Multi 11 1.2%* 1.4%* 3.1%* 3.7%* 10.8%*
Strategy
Man Strategies 1783 12 0.3% 1.9% 7.3% - 5.0%
------------------------- --- -------------
Total return
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
AHL TargetRisk 13 -1.3% 5.9% 2.0% 5.5% 6.9%
Alternative Risk Premia 14 1.2% 3.0% 9.2% 3.0% 4.3%
GLG Global Emerging
Markets Debt Total
Return 15 -0.4% -4.1% -2.3% -0.2% 1.0%
------------------------- ---
Multi-manager solutions
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
FRM Diversified II 16 1.1%* 2.3%* 7.3%* 3.4%* 4.0%*
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
Systematic long-only
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
Numeric Global Core 17 -3.0% 9.6% 8.9% 6.0% 9.3%
Relative return 0.5% -1.5% 0.8% -1.2% 0.5%
Numeric Europe Core 18 -1.9% 9.8% 11.3% 5.7% 8.4%
Relative return 0.2% 1.0% 0.3% -0.2% 2.1%
Numeric Emerging Markets
Core 19 -3.9% 3.3% 0.2% 1.7% 4.1%
Relative return -1.0% 1.5% 1.9% 1.2% 2.2%
------------------------- ---
Discretionary long-only
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
GLG Continental European
Growth 20 -6.7% 6.0% 1.2% 5.2% 8.8%
Relative return -5.2% -1.5% -7.4% -1.3% 2.9%
GLG Japan CoreAlpha
Equity 21 8.1% 33.3% 32.2% 9.3% 6.1%
Relative return 5.6% 7.6% 16.8% 1.7% 2.2%
GLG Undervalued Assets 22 5.8% 9.5% 18.0% 2.8% 6.7%
Relative return 3.9% 5.0% 6.2% -0.8% 1.5%
GLG High Yield
Opportunities 23 2.1% 5.9% 6.1% - 6.0%
Relative return 1.8% 2.0% 6.9% - 5.2%
------------------------- --- -------------
Indices
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
HFRX Global Hedge Fund
Index 24 0.7% 1.4% 1.8% 1.9%
HFRI Fund of Funds
Conservative Index 24 1.8% 3.8% 5.8% 4.1%
HFRI Equity Hedge
(Total) Index 24 0.4% 1.8% 3.8% 2.0%
HFRX EH: Equity Market
Neutral Index 24 0.9% 1.8% 2.0% -1.1%
Barclay BTOP 50 Index 25 3.3% 2.9% 11.4% 7.4%
------------------------- --- ------------- ------------- ------------- ------------- ------------------------
*Estimated
Past or projected performance is no indication of future
results. Financial indices are used for illustrative purposes only
and are provided for the purpose of making a comparison to general
market data as a point of reference and should not be construed as
a true comparison to the strategy.
The information herein is being provided solely in connection
with this press release and is not intended to be, nor should it be
construed or used as, investment, tax or legal advice, any
recommendation or opinion regarding the appropriateness or
suitability of any investment or strategy, or an offer to sell, or
a solicitation of an offer to buy, an interest in any security,
including an interest in any fund or pool described herein.
About Man Group
Man Group is a global, technology-empowered active investment
management firm focused on delivering alpha and portfolio solutions
for clients. Headquartered in London, we manage $161.2 billion(26)
and operate across multiple offices globally.
We invest across a diverse range of strategies and asset
classes, with a mix of long-only and alternative strategies run on
a discretionary and quantitative basis, across liquid and private
markets. Our investment teams work within Man Group's single
operating platform, enabling them to invest with a high degree of
empowerment while benefiting from the collaboration, strength and
resources of the entire firm. Our platform is underpinned by
advanced technology, supporting our investment teams at every stage
of their process, including alpha generation, portfolio management,
trade execution and risk management.
Our clients and the millions of retirees and savers they
represent are at the heart of everything we do. We form deep and
long-lasting relationships and create tailored solutions to help
meet their unique needs. We recognise that responsible investing is
intrinsically linked to our fiduciary duty to our clients, and we
integrate this approach broadly across the firm.
We are committed to creating a diverse and inclusive workplace
where difference is celebrated and everyone has an equal
opportunity to thrive, as well as giving back and contributing
positively to our communities. For more information about Man
Group's global charitable efforts, and our diversity and inclusion
initiatives, please visit:
https://www.man.com/corporate-responsibility
Man Group plc is listed on the London Stock Exchange under the
ticker EMG and is a constituent of the FTSE 250 Index. Further
information can be found at: www.man.com
Important information
The content of the websites referred to in this announcement is
not incorporated into and does not form part of this announcement.
Nothing in this announcement should be construed as or is intended
to be a solicitation for or an offer to provide investment advisory
services or to invest in any investment products mentioned
herein.
Enquiries
Karan Shirgaokar
Head of Investor Relations
+44 20 7144 1434
investor.relations@man.com
Georgiana Brunner
Head of Communications
+44 20 7144 1000
communications@man.com
Neil Doyle
FTI Consulting
+44 77 7197 8220
man@fticonsulting.com
Notes
1 Other movements relate to fee-paying assets under management
added following the acquisition of Varagon Capital Partners,
maturities and leverage movements.
2 Man Institutional Solutions includes AHL Institutional
Solutions, which invests into a range of AHL strategies including
AHL Alpha, AHL Dimension and AHL Evolution.
3 Includes other AHL absolute return, Numeric absolute return
and GLG credit absolute return strategies.
4 Includes other equity and multi-asset strategies.
5 Represented by AHL Alpha plc from 17 October 1995 to 30
September 2012, and by AHL Strategies PCC Limited: Class Y AHL
Alpha USD Shares from 1 October 2012 to 30 September 2013. The
representative product was changed at the end of September 2012 due
to the provisioning of fund liquidation costs in October 2012 for
AHL Alpha plc, which resulted in a tracking error compared with
other Alpha Programme funds. Both funds are valued weekly; however,
for comparative purposes, statistics have been calculated using the
best quality price that is available at each calendar month end,
using estimates where a final price is unavailable. Where a price,
either estimate or final is unavailable on a calendar month end,
the price on the closest date prior to the calendar month end has
been used. Both of the track records have been adjusted to reflect
the fee structure of AHL Alpha (Cayman) Limited - USD Shares. From
30 September 2013, the actual performance of AHL Alpha (Cayman)
Limited - USD Shares is displayed.
6 Represented by AHL Strategies PCC Limited: Class B AHL
Dimension USD Shares from 3 July 2006 to 31 May 2014, and by AHL
Dimension (Cayman) Ltd - F USD Shares Class from 1 June 2014 until
28 February 2015 when AHL Dimension (Cayman) Ltd - A USD Shares
Class is used. Representative fees of 1.5% Management Fee and 20%
Performance Fee have been applied.
7 Represented by AHL Evolution Limited adjusted for the fee
structure (2% management fee and 20% performance fee) from
September 2005 to 31 October 2006; and by AHL Strategies PCC: Class
G AHL Evolution USD from 1 November 2006 to 30 November 2011; and
by the performance track record of AHL Investment Strategies SPC:
Class E AHL Evolution USD Notes from 1 December 2011 to 30 November
2012. From 1 December 2012, the track record of AHL (Cayman) SPC:
Class A1 Evolution USD Shares has been shown. All returns shown are
net of fees.
8 Represented by Man AHL Diversified plc from 26 March 1996 to
29 October 2012, and by Man AHL Diversified (Guernsey) USD Shares -
Class A from 30 October 2012 to date. The representative product
was changed at the end of October 2012 due to legal and/or
regulatory restrictions on Man AHL Diversified plc preventing the
product from accessing the Programme's revised target allocations.
Both funds are valued weekly; however, for comparative purposes,
statistics have been calculated using the best quality price that
is available at each calendar month end, using estimates where a
final price is unavailable. Where a price, either estimate or final
is unavailable on a calendar month end, the price on the closest
date prior to the calendar month end has been used.
9 Represented by Man GLG Alpha Select Alternative IL GBP; AUM
included within GLG equity under the absolute return product
category.
10 Represented by Man GLG Event Driven Alternative IN USD; AUM
included within GLG equity under the absolute return product
category.
11 Represented by GLG Market Neutral Fund - Class Z Restricted -
USD until 31 August 2007. From 1 September 2007, Man GLG Global
Credit Multi Strategy CL IL XX USD unrestricted; AUM included
within Other under the absolute return product category.
12 Represented by Man Strategies 1783 Class F1 USD until 31st
December 2021. From 1 January 2022 Man Strategies 1783 Class A USD;
AUM included within the corresponding product category.
13 Represented by Man AHL TargetRisk class I USD.
14 Represented by Man Alternative Risk Premia Class A USD.
15 Represented by Man GLG Global Emerging Markets Debt Total
Return Class I USD; AUM included within Emerging markets fixed
income under the total return product category.
16 Represented by FRM Diversified II Fund SPC - Class A USD
('the fund') until April 2018 then Class A JPY hedged to USD
thereafter. However, prior to Jan 2004, FRM has created the FRM
Diversified II pro forma using the following methodology: i) for
the period Jan 1998 to Dec 2003, by using the returns of Absolute
Alpha Fund PCC Limited - Diversified Series Share Cell ('AA
Diversified - USD') adjusted for fees and/or currency, where
applicable. For the period Jan 2004 to Feb 2004, the returns of the
fund's master portfolio have been used, adjusted for fees and/or
currency, where applicable. Post Feb 2004, the fund's actual
performance has been used, which may differ from the calculated
performance of the track record. There have been occasions where
the 12-months' performance to date of FRM Diversified II has
differed materially from that of AA Diversified. Strategy and
holdings data relates to the composition of the master portfolio;
AUM included within Diversified and thematic FoHF under the
multi-manager product category.
17 Performance relative to the MSCI World. This reference index
is intended to best represent the strategy's universe. Investors
may choose to compare returns for their accounts to different
reference indices, resulting in differences in relative return
information. Comparison to an index is for informational purposes
only, as the holdings of an account managed by Numeric will differ
from the securities which comprise the index and may have greater
volatility than the holdings of an index.
18 Performance relative to the MSCI Europe (EUR). This reference
index is intended to best represent the strategy's universe.
Investors may choose to compare returns for their accounts to
different reference indices, resulting in differences in relative
return information. Comparison to an index is for informational
purposes only, as the holdings of an account managed by Numeric
will differ from the securities which comprise the index and may
have greater volatility than the holdings of an index; AUM included
within International equity under the systematic long-only product
category.
19 Performance relative to MSCI Emerging Markets. This reference
index is intended to best represent the strategy's universe.
Investors may choose to compare returns for their accounts to
different reference indices, resulting in differences in relative
return information. Comparison to an index is for informational
purposes only, as the holdings of an account managed by Numeric
will differ from the securities which comprise the index and may
have greater volatility than the holdings of an index.
20 Represented by Man GLG Continental European Growth Fund Class
C Accumulation Shares. Relative return shown vs FTSE World Europe
Ex UK (GBP, GDTR); AUM included within Europe ex-UK equity under
the discretionary long-only product category.
21 Represented by Man GLG Japan CoreAlpha Fund - Class C
converted to JPY until 28 January 2010. From 1 February 2010 Man
GLG Japan CoreAlpha Equity Fund - Class I JPY is displayed.
Relative return shown vs TOPIX (JPY, GDTR); AUM included within
Japan equity under the discretionary long-only product
category.
22 Represented by Man GLG Undervalued Assets Fund - C
Accumulation Shares. Relative return shown vs FTSE All Share (GBP,
NDTR); AUM included within UK equity under the discretionary
long-only product category.
23 Represented by Man GLG High Yield Opportunities I EUR.
Relative return is shown vs ICE BofA Global High Yield Index (EUR,
TR) Hedged benchmark. AUM included within Credit and convertibles
under the discretionary long-only product category.
24 HFRI and HFRX index performance over the past 4 months is subject to change.
25 The historical Barclay BTOP 50 Index data is subject to change.
26 As at 30 September 2023. All investment management and
advisory services are offered through the investment engines of Man
AHL, Man Numeric, Man GLG, Man FRM, Man Varagon, Man Global Private
Markets and Man Solutions.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTGPGRGUUPWGRR
(END) Dow Jones Newswires
October 19, 2023 02:00 ET (06:00 GMT)
Man (LSE:EMG)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Man (LSE:EMG)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
