Man Group (EMG) Q1 2026 TU earnings summary

Executive summary

• Assets under management (AUM) reached $228.7bn as of 31 March 2026, up from $227.6bn at 31 December 2025, reflecting positive investment performance despite net outflows.

• Net flows were negative $1.6bn for the quarter, primarily due to a $6.1bn redemption from a single client in long-only equity (systematic).

• Investment performance contributed $3.1bn to AUM growth in the quarter.

Financial highlights

• Liquid alternative AUM increased to $89.8bn, driven by $2.8bn in investment performance.

• Private market AUM remained stable at $17.1bn, with modest net inflows and performance gains offset by other adjustments.

• Long-only equity AUM declined to $86.4bn, impacted by significant client redemption and negative net flows.

• Long-only credit AUM rose to $35.4bn, supported by $2.2bn in net inflows.

Segment performance

• Liquid alternatives saw strong investment returns, particularly in AHL Alpha (5.7% for the quarter, 16.7% for the year) and Man Alpha Select Alternative (6.4% for the quarter).

• Long-only equity performance was mixed: Man Japan CoreAlpha Equity delivered 5.0% for the quarter and 42.5% for the year, while Man Continental European Growth declined 9.7% for the quarter.

• Long-only credit strategies posted modest gains, with Man High Yield Opportunities up 0.4% for the quarter and 7.0% for the year.