Man Group (EMG) Q3 2025 TU earnings summary

Executive summary

• Assets under management (AUM) reached $213.9bn as of 30 September 2025, up from $193.3bn at 30 June 2025, driven by strong net inflows and positive investment performance.

• Systematic and discretionary long-only strategies saw significant AUM growth, with systematic long-only up $11.4bn and discretionary long-only up $5.8bn quarter-over-quarter.

Financial highlights

• Net inflows for the quarter totaled $9.7bn, with investment performance contributing an additional $10.0bn to AUM.

• Systematic long-only AUM increased from $61.3bn to $72.7bn, and discretionary long-only from $38.1bn to $43.9bn during the quarter.

• Absolute return and alternative strategies also posted positive investment performance, though absolute return AUM saw net outflows.

Segment performance

• Absolute return AUM rose to $40.5bn, with a 3-month net return of 7.6% for AHL Alpha and 6.0% for AHL Evolution.

• Total return strategies' AUM increased to $42.7bn, with Man TargetRisk returning 5.3% over the quarter.

• Multi-manager AUM grew to $14.1bn, and systematic long-only strategies delivered strong returns, notably Numeric Emerging Markets Core at 11.3% for the quarter.

• Discretionary long-only strategies, including Man Japan CoreAlpha Equity, posted a 15.0% quarterly return.