- Asset manager Man Group reported an increase in funds under management as a rebound in global markets since the turn of the year bolstered its investments offsetting fund outflows.

For the 3 months to 31 March, funds under management rose to $112.3m from $108.5m the previous year.

Net outflows of $0.7bn was offset by positive investment movement of $4.5bn.

The fund outflows were concentrated in discretionary long only, including European retail investors reducing exposure to Japan and institutional clients reducing exposure to global equities, the company said.

While it expected clients to continue adjusting their portfolio allocations during the second quarter, Man Group said it sees ongoing engagement with clients on new mandates and, in particular, continuing strong demand for its total return strategies.

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