By Maiya Keidan
LONDON (Reuters) - Man Group
Total assets under management hit $114.1 billion (£86.2 billion) at the end of September, up from $113.7 billion at the end of the prior quarter, Man said in a trading statement.
Man saw overall net inflows of $400 million, with strong inflows into its computer-driven equity strategies, although positive investment performance of $900 million was offset by negative currency and other market moves, it said.
The net inflows follow a mixed quarter for asset managers as investor sentiment took a knock from rising concerns about global growth amid political and trade tensions in countries including Italy.
Man also announced a proposal to incorporate a new group holding company in Jersey to simplify its regulatory oversight, which will be subject to shareholder approvals.
The hedge fund expects to reap net proceeds of around $130 million from the sale of its management fee only profit interest in Nephila Holdings, which is set to be acquired by Markel Corporation.
(Editing by Simon Jessop)