Emerging MarketsOct 13 2017

Emerging market debt demand boosts Man Group’s assets

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Emerging market debt demand boosts Man Group’s assets

Investment manager Man Group reported a 28 per cent climb in assets under management (AUM) to $103.5bn (£77.8bn) on a year to date basis to 30 September.

This compares to the company’s assets under management at 30 June 2016 of $95bn (£71.4bn).

The company said it will buy back $100m (£75m) of its own shares, and that it is on the lookout for further acquisition opportunities.  

In a statement to the stock exchange, Man Group said inflows of $2.8bn (£2.1bn) for the three months to 30 September were driven by demand for emerging market debt and other risk assets.

The company’s AUM benefited from $3.3bn (£2.4bn) generated from investment performance, and $900m (£676m) from currency movements.

Man Group said it will join firms such as JP Morgan Asset Management and Aberdeen Standard Life in absorbing fund research costs when Mifid II regulations take effect next year. The company estimate this will cost $10-$15m (£7.5-£11m) in terms of profitability in the first year.

David.Thorpe@ft.com