Man Group (EMG) Q3 2024 TU earnings summary

Executive summary

• Assets under management (AUM) stood at $174.9bn as of 30 September 2024, down from $178.2bn at 30 June 2024, reflecting net outflows and negative investment performance in some segments.

• The quarter saw a significant single client outflow of $7.0bn from systematic long-only strategies, previously announced.

Financial highlights

• Total AUM decreased by $3.3bn quarter-over-quarter, driven by $5.5bn in net outflows, partially offset by $0.4bn positive investment performance and $1.8bn from other factors.

• Absolute return AUM declined to $47.5bn, while discretionary long-only AUM increased to $29.3bn.

• Systematic long-only AUM dropped to $37.1bn, mainly due to the large client redemption.

Segment performance

• Absolute return strategies saw negative 3-month returns, with AHL Alpha at -3.9% and AHL Dimension at -5.6%.

• Systematic long-only strategies posted strong 3-month returns, with Numeric Global Core at 6.4% and Numeric Emerging Markets Core at 6.7%.

• Discretionary long-only strategies were mixed, with GLG High Yield Opportunities up 5.0% and GLG Japan CoreAlpha Equity down 5.7% for the quarter.