RE: Interim Results1 Aug 2023 09:27
Hedge fund Man Group reported a drop in pretax profit to $114m from $380m for the first half of the year amid a wider market slump.
The London-listed firm’s revenue fell to $506m from $887m for the same period last year, the firm said, while performance fees also took a 92% hit, dropping to $32m from $404m the previous year.
Man noted assets under management of $151.7bn, and net inflows of $2.6bn, alongside positive investment performance of $5.1bn.
The group also declared an interim dividend of 5.6 cents per share.