Hedge fund manager Man Group plc announced that is "Extremely well placed to see continued strong growth." In a statment regarding its close period for the year, Man said, "This is a very strong set of results, achieved through a period of significant market turmoil."
Funds under management have risen to around $75 billion, it is anticipated that profit for the year ending 31 March 2008 will be ahead of market expectations.
Man Group's most recent fund launch, which starts trading 1 April, raised $1 billion and has been included in FUM of $75 billion for the year to 31 March 2008.
Peter Clarke, CEO of Man Group, said, "Strong sales momentum has been maintained with sales of $15.8 billion in the year. Good performance has added $5.3 billion to investor assets during a period when global markets were exceptionally volatile."