City Of London
Man Group Pulls In $3 Billion Defying Industry-Wide Outflows
- Assets, inflows exceeded analysts estimates for the year
- The firm managed $143.3 billion at the end of December
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Man Group Plc posted $3.1 billion of net inflows last year, beating analyst estimates and defying wider gloom in the hedge fund industry. Its shares rose.
The world’s largest publicly traded hedge fund firm said clients added $400 million during the fourth quarter, a turnaround from the third quarter that saw outflows, according to a statement Tuesday. Analysts had estimated annual net inflows of $900 million, according to a company-compiled poll.