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British hedge fund Man Group posts 5% rise in first-half AUM

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LONDON (Reuters) – British hedge fund manager Man Group on Wednesday reported a 5% increase to its assets under management in the first half of 2019, even as it saw an increased outflow of client cash.

At the end of June, assets under management were at $114.4 billion, up from $108.5 billion at the end of December.

Man Group saw net outflows of $1.1 billion, compared with $8.3 billion of net inflows a year ago.

Adjusted pretax profit rose 3% to $157 million, while the interim dividend was at 4.7 cents per share compared to 6.4 cents per share a year earlier.

(Reporting by Lena Masri; editing by Carolyn Cohn)

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