StockMarketWire.com - Fund manager Man Group reported a rise in quarterly funds under management in the first quarter driven by investment gains and net fund inflows.

Funds under management was at $127.0 billion at 31 March 2021, 3% above the $123.6 billion seen on 31 December 2020.

The uptick in FuM was driven by 'net inflows of $0.6 billion primarily from our alternative strategies and positive investment performance of $3.5 billion largely from our long-only strategies,' the company said.

Looking ahead, the company said it expected to see increased inflows in the coming quarters as client engagement on a number of larger mandates had been positive this year.

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