Man sales remained subdued

8th Jul 2010 07:24

Man Group said sales in the quarter have remained subdued amid continued market uncertainty. Funds under management (FUM) fell in the second quarter to $38.5bn at the end of June from $39.4bn at 31 March. Man's flagship AHL fund generated a positive return of 0.9% compared with an 11.6% drop in world stocks.Private investor FUM rose slightly to $27.1bn compared with $26.8bn in March, while institutional FUM dropped to $11.4bn from $12.6bn in the same period.Chief executive Peter Clarke said: "The quarter to 30 June has seen a return to increased volatility and uncertainty in financial markets.""With continuing performance and an exciting acquisition to expand our business, we are strongly positioned to deepen our product range across markets and accelerate asset raising."