LONDON (ShareCast) - (Sharecast News) - Active management business Man Group registered record-high funds under management during the first six months of 2021, predominately driven by a "strong investment performance" throughout the half.
Man Group said funds under management had grown to $135.3bn from $123.6bn at the end of the calendar year, with the firm swinging from a negative investment performance of $5.4bn in the first half of 2020 to a positive $9.5bn showing in 2021.

Net inflows came in at $1.2bn, a marked improvement on the outflows of $1.2bn seen at the same time a year earlier.

The FTSE 250-listed firm also stated core earnings per share had surged 246% to 18.7 cents, with management EPS up 51% at 7.4 cents and performance fee EPS surging to 11.3 cents from 0.5 cents a year earlier.

As a result of the solid performance, Man Group said it had opted to up its interim dividend by 14% to 5.6 cents per share.

Chief executive Luke Ellis said: "The first half was a period of excellent growth for Man Group as we reached record funds under management, continued a trend of positive net inflows, and grew management fee profit by 51% and total profit per share by 246%.

"The firm's momentum continues as we enter the second half, supported by strong performance fee optionality, a high level of client engagement and a strong sales pipeline."

As of 0835 BST, Man Group shares were up 0.37% at 192.15p.

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