Man Group sees robust results for '07

The London hedge fund manager projects net management fee income to grow 15% from the year-ago period.
MAR 27, 2008
By  Bloomberg
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.”

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.