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Man Group funds under management decline in 1H

Man Group funds under management decline in 1H

Man Group PLC, the world's largest publicly traded hedge fund, said Thursday that funds under management declined in the first half despite a recent growth in private investor sales.
The group said it had $43.3 billion in funds under management on June 30, down from $44 billion at the end of May and $46.8 billion on March 31.
Private investor sales in the three months ending June 30, the company's first quarter, were $3.4 billion, producing a net inflow of $1.9 billion. However, institutional sales amounted to just $300 million, with a net outflow of $3.3 billion.
Man Group shares rose 2.6 percent to 245.5 pence on the London Stock Exchange.
In the year ending March 31, Man Group had reported that its net profit fell to $503 million compared to $3.47 billion in the previous year.
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http://www.mangroupplc.com