Private credit helps boost Man Group H1 inflows
Man Group has reported net inflows of $900m (£699m) during the first six months of the year, thanks in part to the strong performance of its private credit strategy.
The investment manager said that these net inflows were 1.8 per cent ahead of industry averages.
Man Group’s investment performance was $11.1bn in the six months ending 30 June, 2.1 per cent higher than its peers. The firm also reported an increase in assets under management (AUM), from $167.5bn on 31 December 2023, to $178.2bn by 30 June 2024.
The firm said that its strong financials were due to good progress in its multi-year strategic priorities, which include liquid credit strategies. The company added that its US direct lending business is proceeding in line with expectations.
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“We have started the year strongly, delivering for our clients in a market environment driven by the evolution of forward interest rates, expectations of technological disruption, and the outcome of elections globally,” said Robyn Grew, chief executive officer of Man Group.
“We generated investment performance of $11.1bn, with a broad range of our strategies contributing.
“For context, our flagship multi-strategy alternative offering gained 13.3 per cent. We were also pleased to record net inflows of $0.9bn during another challenging period for asset raising in the industry.
“We ended June with AUM of $178.2bn, and delivered core profit before tax of $257m in the first half.”
Read more: Man Group sees $1.6bn outflows in Q1
“At the beginning of 2024 we outlined our multi-year strategic priorities,” added Grew.
“We aim to further diversify our investment capabilities, notably in quant equity, credit and solutions; to extend our client reach, with a particular emphasis on North America, wealth and insurance channels; and to leverage our existing strengths and scale. These are not overnight wins, but we are pleased with the progress we have made already and will continue to execute on these objectives.
“While the institutional nature of our business can result in some variability in short term net flows, our business is in great shape going into the second half of the year.
“We offer a diversified range of investment strategies and solutions, underpinned by our high-quality talent and cutting-edge technology, that are highly relevant to our clients as they try to grapple with volatile markets. I am confident that we will continue to deliver for them.”
Read more: Man Group looks to balance liquidity more between managers and investors
