Man Group yearly profits climb 60%

One of the largest hedge fund managers in the world, Man’s funds under management climbed 21% to $74.6bn during the period, with private investors accounting for 58% of FUM. Man attributes much of its strong profit from continuing operations to a 161% surge in net performance fee income, to $936m. While redemptions totalled $10.7bn over the year, Man says the figure is at “significantly lower levels” than the industry average. The 24.8c proposed final dividend takes the total yearly dividend to 44c, more than double from the previous period. Man Group CEO Peter Clarke says the resul...