LONDON (ShareCast) - (Sharecast News) - Hedge fund manager Man Group reported positive net inflows in the third quarter despite being hit by a $2.2bn client redemption.
Net inflows of $0.4bn helped funds under management edge up 0.4% to $114.1bn over the three months to 30 September.

Market movements or investment performance of $0.9bn was a positive boost to FuM, offset by negative currency movements of $0.7bn and other movements of $0.2bn.

Man had enjoyed a strong first half of $8.3bn net inflows and had previously announced the $2.2bn infrastructure mandate redemption from a client that was still retained elsewhere.

Chief executive Luke Ellis pointed to continuing inflows into alternative risk premia strategies and strong flows into systematic equity strategies.

"Investment performance in the quarter was mixed with strong absolute and relative performance in our momentum and discretionary long only strategies but weaker relative performance in our discretionary alternative and systematic equity strategies."

Looking forward, he said Man was "well positioned" and was focused on "enhancing our technology platform and continuing to develop innovative strategies for our clients".

Stockbroker Shore Capital said after the strong first half it already assumed a slower second, and after Friday's update analysts noted that to hit their current full year forecast of $12.2bn flows would require Q4 net flow of $3.5bn.

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