LONDON (ShareCast) - (Sharecast News) - Investment manager Man Group said on Thursday that assets under management had grown in FY24 on the back of a solid Q4 trading performance.
Man Group said AuM had increased 1% to $168.6bn in FY24, short of analyst expectations of $171.6bn, as net inflows of $1.3bn in Q4 helped to somewhat counteract net outflows of $7.0bn in Q3 when a single client withdrew $7.0bn to invest passively. As a result, FY net outflows came to $3.3bn.

The FTSE 250-listed group also recommended a final dividend of USD 11.6 cents, resulting in a total dividend of USD 17.2 cents, up from USD 16.3 cents in FY23.

Chief executive Robyn Grew said: "In another volatile year for markets, we delivered good performance for our clients.

"We see significant opportunities on the horizon in 2025. Stretched equity valuations and the risk of persistent inflation in the US suggest that allocators will increasingly seek uncorrelated investment strategies, while higher-for-longer interest rates are likely to support continued growth in credit markets. As the challenges facing investors become more complex, the demand for customised, scalable and differentiated solutions will only increase."

As of 0900 GMT, Man Group shares were up 3.15% at 215.80p.







Reporting by Iain Gilbert at Sharecast.com

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