LONDON, March 1, 2012 /PRNewswire/ --
The alternative investment management company, Man Group, has today reported results covering the nine month period to 31 December 2011. The company booked $16.7 billion of product sales, but a spike in redemptions in September led to modest net inflows in alternatives and an outflow in long only. The Board also today announced a change to its dividend policy.
But speaking to the online broadcaster MerchantCantos its Chief Executive Peter Clarke said the year has started positively for AHL, more so for GLG which had witnessed some strong performance, confirmed by COO Manny Roman who said that risk appetite had come back into the market, although he cautioned about reading too much into two months' figures.
In reconciling this set of results, Finance Director Kevin Hayes reports on the $262m of pre-tax adjusted profit for the period and gives details on how margins are trending and how he sees the company's cost saving programme playing out over time.
Rounding off this set of interviews, Luke Ellis, the Head of Man's Multi-Manger business added that the company remained focused on making superior returns in a market which was becoming more focused on individual prices of securities and less captivated by macro issues, although he too cautioned that events such as the continuing turmoil in Greece and the pending French elections would continue to create what he called "downdrafts" in sentiment.
The interviews and transcripts are available now on http://www.cantos.com/company/Man%20Group.
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SOURCE Man Group PLC