Man Group sees robust results for '07

Man Group PLC expects to exceed earnings forecasts for the year ending March 31, due to growth in performance fees — particularly from its AHL futures fund. The London-based hedge fund manager projects net management fee income to be up 15% from the year-ago period with diluted earnings rising over 50%. Estimated funds under management are roughly $75 billion, up from $61.7 billion in the year ago-period, and sales are projected to be $15.8 billion. Man Group’s pre-tax profit from continuing operations for the year ending March 31 will beat previous forecasts of $1.82 billion, the hedge fund’s statement said. “This is a very strong set of results achieved through a period of market turmoil,” said Peter Clarke, Man Group’s chief executive officer in a statement. “Good performance has added $5.3 billion to investor assets during a period when global markets were exceptionally volatile.”