FTSE 250-listed fund manager Man Group PLC (LSE:EMG) saw net cash outflows of US$1.6 billion over the three-month period ending 31 March, but this was sufficiently offset by market appreciation of its assets under management (AUM).
AUM increased by 4.9% sequentially in the first quarter of its financial year, bringing the total to US$175.7 billion (£141 billion) as of 31 March.
The high-margin absolute return segment saw AUM increase from $US$47.7 billion to $50.3 billion. Long-only funds also saw inflows, partially offset by a decrease in multi-manager solutions.
On a year-on-year basis, total AUM across all funds increased by more than 21%.