Man Group, the world’s largest listed hedge fund, reported that profits rose in the first half of 2024, after a challenging 2023.
Statutory profit before tax almost doubled, from $114m to $219m, as performance of key strategies recovered. Man Group makes money by charging management and performance fees to investors.
Assets under management rose to $178.2bn, almost $3bn higher than the previous quarter, while investor net inflows were $0.9bn.
“We have started the year strongly, delivering for our clients in a market environment driven by the evolution of forward interest rates, expectations of technological disruption, and the outcome of elections globally,” said Robyn Grew, chief executive of the Man Group.
