Man Group has posted a ninth consecutive quarter of net outflows from its funds, The Wall Street Journal reports. For the three months to Dec. 31, the hedge fund firm reported a $100 million net inflow into its hedge funds.
The group faced a $1 billion client redemption and other withdrawals from the long-only equity funds of GLG Partners, which Man bought in May 2010 for $1.6 billion. Man Group CEO Peter Clarke said the firm will add $350 million in assets in its final fiscal quarter and is nearing a $1.5 billion managed-account mandate.
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