Hedge fund Man Group says assets up 4.2 percent in first half

LONDON (Reuters) – British hedge fund firm Man Group (EMG.L) on Wednesday said assets under management rose 4.2 percent in the first six months of 2018, helped by net inflows of $8.3 billion.

Man Group’s total assets under management at the end of June rose to $113.7 billion, up from $109.1 billion at the end of December.

Assets were hindered by negative currency monements of $2 billion and performance losses of $1.7 billion.

“Given the difficult market backdrop and weaker performance in the first half, funds under management and adjusted profit growth were more limited,” Luke Ellis, chief executive officer at Man Group, said in a statement.

Reporting by Maiya Keidan, editing by Sinead Cruise