Man Group assets hit record $270.9 billion on inflows

Man Group’s assets under management rose nearly 7% from $253.6 billion at the end of June, the London-based investment manager reported. The increase came from investor inflows and gains across its investment strategies.

The firm received $1.9 billion in net inflows into alternative strategies and $8.2 billion into long-only products during the three months ended Sept. 30. Combined net inflows reached $10.1 billion.

The results exceeded analysts’ expectations. Total assets were above the $262.9 billion consensus estimate, while net inflows surpassed the $3.8 billion forecast.

Man Group’s AHL Alpha fund gained 5.4% during the quarter. AHL Dimension returned an estimated 5.6%, while Man Strategies 1783 recorded an estimated 2.8% gain.

The performance came during a period of volatile markets. Artificial-intelligence stocks sold off in July, followed by renewed inflation concerns, higher oil prices and disruption in bond markets in September. Quantitative hedge funds recorded gains during the September volatility as computer-driven strategies responded to changes in market prices.

Man Group shares rose as much as 3.3% in early London trading after the results were announced, bringing their year-to-date gain to about 51%. The firm manages systematic and discretionary hedge funds, alternative investments and traditional long-only strategies.