Man Group Faces Redemptions After $10.7 Billion of Losses
- Losses were concentrated in the firm’s long-only funds
- Assets under management fell to $104.2 billion in quarter
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Man Group Plc is facing a rise in withdrawals after being hit by $10.7 billion of losses last quarter amid unprecedented volatility in global markets.
The investment firm pulled in net new cash and some of its hedge fund strategies made money, but it wasn’t enough to compensate for the drop in performance. Assets under management declined to $104.2 billion from a record $117.7 billion at the end of last year, according to a statement on Friday.