Trading Statement for quarter ended 30 Sep 2016

RNS Number : 5123M

Man Group plc

14 October 2016

 

Press Release

14 October 2016

TRADING STATEMENT for the quarter ended 30 September 2016

Key points

·     Funds under management (FUM) has increased by 6% during the quarter to $80.7 billion at 30 September 2016 (30 June 2016: $76.4 billion)

o  Positive investment movement of $2.5 billion in the quarter driven by good performance for GLG and Numeric, partially offset by weaker performance across AHL's strategies

o  Net inflows in the quarter of $1.3 billion, comprising sales of $6.0 billion and redemptions of $4.7 billion, with net inflows into quant alternative, fund of fund alternative, and quant long only, partially offset by net outflows from discretionary alternatives and long only

o  FX translation effects were flat in the quarter

o  Other positive movements of $0.5 billion with positive investment exposure adjustments of $0.6 billion, partially offset by CLO maturities

o  Acquisition of Aalto, a real asset focused investment manager with $1.7 billion of funds under management, is due to complete in January 2017 subject to regulatory approvals and other customary conditions

o  Man Global Private Markets business is launched with the acquisition of Aalto, which will provide clients with access to longer term investments

o  Intention to repurchase up to $100 million of shares; we will continue to review further potential acquisition opportunities

o  Surplus regulatory capital of $470 million at 30 September 2016; around $300 million pro-forma including the impact of acquisition and share repurchase

Luke Ellis, Chief Executive Officer of Man, said:

"In a difficult market environment, we are pleased to report a $4.3 billion increase in funds under management in the quarter driven by a positive investment movement of $2.5 billion and net flows of $1.3 billion.  There was good investment performance across both alternative and long only strategies at GLG and Numeric, offsetting negative performance among some of AHL's strategies this quarter, as the market proved more difficult for trend following strategies.  The net inflows were driven largely by the appetite of institutional clients for our quant alternative and quant long only strategies."

Acquisition of Aalto and launch of Man Global Private Markets

Man announced today that it has entered into an agreement to acquire the entire issued share capital of Aalto Invest Holding AG and launched Man Global Private Markets, forming the firm's private market offering, which provides clients with access to longer term investments.

Full details of the transaction and the launch of the Man Global Private Markets business are provided in a separate announcement released this morning.

Share repurchase

Man's dividend policy is to pay at least 100% of adjusted management fee earnings per share in each financial year by way of ordinary dividend. In addition, the Group expects to generate significant surplus capital over time, primarily from net performance fee earnings. Available surpluses, after taking into account required capital (including accruals for future earn-out payments), potential strategic opportunities and a prudent buffer, will be distributed to shareholders over time, by way of higher dividend payments and/or share repurchases. Whilst the Board continues to consider dividends as the primary method of returning capital to shareholders, it will continue to execute share repurchases when advantageous.

In line with this policy it is our intention to launch a share repurchase programme for up to $100 million to return surplus capital to shareholders, which will be conducted over the next 12 months.

THIRD QUARTER FUM COMMENTARY

       FUM movements by product type

$bn	FUM at 30 June 2016	Sales	Redemptions	Net inflows / (outflows)	Investment movement	FX	Other	FUM at 30 September 2016
Alternative	45.7	2.8	(2.3)	0.5	(0.2)	0.2	0.5	46.7
Quant (AHL / Numeric)	19.0	1.3	(0.6)	0.7	(0.5)	0.1	0.1	19.4
Discretionary (GLG)	14.9	0.4	(1.0)	(0.6)	0.3	0.1	(0.1)	14.6
Fund of funds (FRM)	11.8	1.1	(0.7)	0.4	-	-	0.5	12.7
Long only	30.1	3.2	(2.4)	0.8	2.7	(0.2)	-	33.4
Quant (Numeric / AHL)	19.0	1.8	(0.8)	1.0	1.4	-	-	21.4
Discretionary (GLG)	11.1	1.4	(1.6)	(0.2)	1.3	(0.2)	-	12.0
Guaranteed	0.6	-	-	-	-	-	-	0.6
Total	76.4	6.0	(4.7)	1.3	2.5	-	0.5	80.7

ALTERNATIVES

Quant

Quant alternative (AHL / Numeric) FUM increased to $19.4 billion during the quarter driven by net inflows, partially offset by negative investment movement. The net inflows of $0.7 billion included $0.4 billion into Dimension, $0.2 billion into Alpha, and $0.2 billion into Institutional Solutions,  partially offset by small net outflows across other strategies. Performance was negative across the majority of AHL strategies during the quarter, with a $0.5 billion reduction in FUM, with Evolution down -1.3%, Alpha down -2.9%, Dimension down -3.2% and Diversified down -5.2% in the quarter. Positive FX movements of $0.1 billion were mainly driven by the US Dollar weakening against the Australian Dollar. Other movements of $0.1 billion were in relation to investment exposure adjustments. As at 30 September 2016, 3% of AHL performance fee eligible open ended FUM was at high watermark and 50% was within 5% of high watermark. The weighted average distance from high watermark for all AHL performance fee eligible FUM was -7.4%.

Discretionary

Discretionary alternatives (GLG) FUM decreased by $0.3 billion during the period with net outflows and CLO maturities, partially offset by positive investment performance. The net outflows of $0.6 billion included $0.4 billion from the equity long short strategy. Negative other movements of $0.1 billion primarily relate to CLO maturities during the quarter.  Investment performance increased FUM by $0.3 billion in the quarter, driven by positive performance for the equity long short strategy (up 4.0% for the quarter) and good performance across the range of strategies. Positive FX movements of $0.1 billion related to the weakening of the US Dollar against the Euro. As at 30 September 2016, 15% of GLG performance fee eligible FUM was at high watermark and 60% was within 5% of high watermark.

Fund of funds

Alternative fund of funds (FRM) FUM increased by 8% during the quarter to $12.7 billion. Net inflows of $0.4 billion included $0.8 billion of inflows from managed account mandates, of which $0.7 billion was from a new managed account mandate and $0.1 billion from a previously awarded mandate, partially offset by net outflows of $0.2 billion from segregated portfolios and $0.2 billion from traditional fund of fund strategies. Investment performance across FRM's strategies was flat for the quarter. Positive other movements of $0.5 billion related to investment exposure adjustments. 

LONG ONLY

Quant

Quant long only (Numeric / AHL) FUM increased by $2.4 billion during the quarter with net inflows and positive investment movements. Net inflows of $1.0 billion included $1.1 billion into Emerging Market strategies, which are nearing capacity, and $0.1 billion into Global Core, partially offset by $0.2 billion of net outflows across Numeric's other strategies. The positive investment movement of $1.4 billion was primarily due to a combination of investor demand for Emerging and Global equities and Numeric positive performance. The asset weighted outperformance against a blend of applicable benchmarks (net of fees) across Numeric's product range for the quarter to 30 September 2016 was approximately 0.9%² (underperformance of -1.35%²  for the year to date to 30 September 2016).

Discretionary

Discretionary long only (GLG) FUM increased by $0.9 billion to $12.0 billion due to positive investment movement in the quarter, partially offset by net outflows and negative FX movements. Net outflows of $0.2 billion included $0.3 billion from Japan CoreAlpha and $0.2 billion across other strategies, partially offset by $0.3 billion of net inflows for the recently launched Emerging Market Debt strategies.  Positive investment movement increased FUM by $1.3 billion during the quarter, which was mainly due to the performance of Japan CoreAlpha, which was up 14.1% for the quarter (compared to the Topix which was up 7.1%). FX movements of negative $0.2 billion in the quarter were mainly due to the US Dollar strengthening against Sterling.

GUARANTEED PRODUCTS

Guaranteed product funds under management remained flat during the quarter at $0.6 billion. There were no guaranteed product launches and minimal redemptions. There were limited maturities during the quarter, with no significant maturities remaining for the rest of the year.  On 1 October 2016, there was a de-gear of $0.1 billion following the negative performance in September.

² Numeric's asset weighted alpha for the periods stated is calculated using the asset weighted average of the performance relative to the benchmark for all strategy composites available net of the highest management fees and, as applicable, performance fees that can be charged.  

FUM by manager

$bn	30 Sep 2015	31 Dec 2015	31 Mar 2016	30 Jun 2016	30 Sep 2016
AHL	17.9	16.9	19.2	18.8	19.0
AHL Diversified (inc. Guaranteed)	4.4	4.1	4.6	4.0	3.7
AHL Alpha	4.0	3.9	4.5	4.0	4.0
AHL Evolution	3.0	2.7	2.9	2.9	2.8
AHL Dimension	4.2	4.1	4.6	4.5	4.9
Europe and Asia Plus	1.1	1.2	0.9	0.8	0.7
Other specialist styles	1.2	0.9	1.7	1.8	1.9
Institutional solutions	-	-	-	0.8	1.0
Numeric	17.2	19.0	19.4	19.7	22.3
Global	9.3	10.8	10.6	10.2	11.0
Emerging markets	1.9	2.1	2.6	2.8	4.3
US	4.6	4.8	4.9	5.2	5.4
Alternatives	1.4	1.3	1.3	1.5	1.6
GLG	31.0	30.5	27.9	26.0	26.6
Alternatives	17.4	16.3	15.4	14.9	14.6
Europe equity	4.0	3.9	4.0	3.8	3.6
North America equity	2.2	1.3	1.1	1.1	1.0
Other equity	0.6	0.5	0.6	0.6	0.6
Convertibles	4.0	4.0	3.6	3.5	3.5
Market Neutral	0.6	0.6	0.5	0.5	0.5
CLOs and debt	5.2	5.1	5.0	4.6	4.5
Multi-strategy	0.8	0.9	0.6	0.8	0.9
Long only	13.6	14.2	12.5	11.1	12.0
Japan equity	7.7	8.6	7.0	5.9	6.5
Europe equity*	0.5	0.7	0.9	0.8	0.9
UK equity	0.6	0.8	0.7	0.8	0.8
Other equity*	2.6	2.4	2.3	2.0	2.0
Fixed income	2.2	1.7	1.6	1.6	1.8
FRM	10.7	12.3	12.1	11.9	12.8
Infrastructure and direct access	1.5	3.2	3.9	4.1	5.0
Segregated	3.1	2.6	2.8	3.0	2.9
Diversified FoHF	4.2	4.6	4.2	3.9	3.8
Thematic FoHF	1.5	1.5	0.9	0.8	1.0
Guaranteed	0.4	0.4	0.3	0.1	0.1
Total	76.8	78.7	78.6	76.4	80.7

*Balanced and Stock Market Managed were reclassified from European equity to Other equity for presentation purposes at 30 June 2016

	Total Return		Annualised Return
	3 months to 30 Sept 16	9 months to 30 Sept 16	3 years to 30 Sept 16	5 years to 30 Sept 16
AHL
AHL Diversified1	-5.2%	-6.1%	9.2%	1.8%
AHL Alpha2	-2.9%	-2.4%	8.1%	2.9%
AHL Evolution3	-1.3%	4.0%	13.1%	12.4%
AHL Dimension4	-3.2%	-3.1%	7.1%	4.5%
GLG ALTERNATIVES
Equity
GLG European Long Short5	4.0%*	-1.5%*	0.1%*	3.0%*
Man GLG European Equity Alternative UCITS6	3.3%	-2.2%	-0.7%	2.6%
Man GLG European Alpha Alternative UCITS7	-0.8%	-2.5%	-1.4%	1.1%
Man GLG European Mid-Cap Equity Alternative8	2.6%	3.2%	n/a	n/a
Man GLG Alpha Select UCITS9	3.4%	-1.6%	3.3%	3.9%
Man GLG Cred-Eq Alternative Class10	1.3%	-2.8%	n/a	n/a
Man GLG Value Opportunity 11	-1.9%	-4.5%	n/a	n/a
GLG Market Neutral12	6.9%*	7.8%*	0.9%*	5.1%*
Man GLG European Distressed13	-2.6%*	-4.2%*	-0.4%*	3.1%*
Multi-strategy
Man Multi-Strategy14	2.2%*	-2.9%*	1.1%*	2.1%*
Credit
GLG Global Convertible15	3.6%	0.6%	0.9%	4.2%
Man GLG Global Convertible UCITS16	4.3%	0.9%	2.3%	5.9%
GLG LONG ONLY
Man GLG Japan Core Alpha Equity17	14.1%	-16.3%	4.3%	13.2%
Man GLG Global Equity UCITS18	3.5%	-2.2%	4.1%	11.0%
Man GLG Strategic Bond19	1.8%	4.5%	2.9%	n/a
Man GLG Undervalued Assets20	11.8%	1.7%	n/a	n/a
Man GLG European Equity21	6.4%	-3.1%	7.7%	13.0%
Man GLG UK Select22	7.2%	-1.5%	5.5%	12.4%
Man GLG Continental European Growth23	9.2%	14.0%	20.3%	21.3%
Man GLG Emerging Markets Debt Total Return24	2.7%	n/a	n/a	n/a

		Total Return		Annualised Return
		3 months to 30 Sept 16	9 months to 30 Sept 16	3 years to 30 Sept 16	5 years to 30 Sept 16
	FRM
	FRM Diversified II25	1.7%*	-3.2%*	1.2%*	1.4%*
	Indices
	World stocks26	4.9%	4.3%	8.2%	13.4%
	World bonds27	0.0%	6.7%	5.4%	4.3%
	Corporate bonds28	1.4%	14.8%	10.5%	7.0%
	Hedge fund indices
	HFRI Fund of Funds Composite Index29	2.5%	-0.1%	2.2%	3.2%
	HFRI Fund Weighted Composite Index29	3.0%	4.2%	3.2%	4.4%
	HFRX Global Hedge Fund Index29	2.2%	1.3%	-0.2%	1.3%
	HFRI Fund of Funds Conservative Index29	2.0%	0.4%	2.2%	3.1%
	Style indices
	Barclay BTOP 50 Index30	-2.3%	-1.9%	4.0%	1.1%
	HFRI Equity Hedge (Total) Index29	4.7%	4.2%	3.2%	5.6%
	HFRI EH: Equity Market Neutral Index29	1.0%	1.1%	3.7%	4.0%
	HFRI Macro (Total) Index29	-0.9%	1.8%	2.6%	0.7%
	HFRI Relative Value (Total) Index29	3.1%	5.8%	4.0%	5.6%

	Total Return		Annualised Return
NUMERIC LONG ONLY	3 months to 30 Sep 2016	9 months to 30 Sep 2016	3 years to   30 Sep 2016	5 years to   30 Sep 2016
U.S. Large Cap Equity
Numeric Core	4.2%	5.3%	11.7%	18.1%
Russell 1000®#	4.0%	7.9%	10.8%	16.4%
Relative Return	0.2%	-2.6%	0.9%	1.7%
Numeric All Cap Core	4.9%	4.9%	9.2%	17.8%
Russell 3000®#	4.4%	8.2%	10.4%	16.4%
Relative Return	0.5%	-3.3%	-1.2%	1.4%
Numeric Large Cap Core	4.3%	5.2%	12.0%	18.5%
S&P 500®#	3.9%	7.8%	11.2%	16.4%
Relative Return	0.4%	-2.6%	0.8%	2.1%
Numeric Value	3.7%	6.6%	11.2%	18.0%
Russell 1000 Value®#	3.5%	10.0%	9.7%	16.2%
Relative Return	0.2%	-3.4%	1.5%	1.8%
Numeric Amplified Core (130/30)	4.3%	3.5%	15.1%	21.4%
S&P 500®#	3.9%	7.8%	11.2%	16.4%
Relative Return	0.4%	-4.3%	4.1%	5.0%
U.S. Small Cap Equity
Numeric Small Cap Core	6.3%	5.1%	5.5%	17.2%
Russell 2000®#	9.0%	11.5%	6.7%	15.8%
Relative Return	-2.7%	-6.4%	-1.2%	1.4%
Numeric Small Cap Growth	7.2%	1.6%	4.7%	17.1%
Russell 2000 Growth®#	9.2%	7.5%	6.6%	16.1%
Relative Return	-2.0%	-5.9%	-1.9%	1.0%
Numeric Small Cap Value	5.7%	8.6%	6.2%	17.3%
Russell 2000 Value®#	8.9%	15.5%	6.8%	15.4%
Relative Return	-3.2%	-6.9%	-0.6%	1.9%
Numeric SMID Growth	6.6%	3.5%	6.8%	17.8%
Russell 2500 Growth®#	7.0%	7.0%	7.4%	16.2%
Relative Return	-0.4%	-3.5%	-0.6%	1.6%
Global / Non-U.S. Equity
Numeric Global Core	5.4%	3.0%	8.3%	n/a
MSCI World®#	4.9%	5.6%	5.8%	n/a
Relative Return	0.5%	-2.6%	2.5%	n/a
Numeric Global Small Cap	6.9%	6.2%	n/a	n/a
MSCI World Small Cap®#	7.2%	9.7%	n/a	n/a
Relative Return	-0.3%	-3.5%	n/a	n/a
Numeric Global Core ex US	6.1%	4.1%	n/a	n/a
MSCI World ex US®#	6.3%	3.1%	n/a	n/a
Relative Return	-0.2%	1.0%	n/a	n/a
Numeric EAFE Core	6.8%	3.5%	n/a	n/a
MSCI EAFE®#	6.4%	1.7%	n/a	n/a
Relative Return	0.4%	1.8%	n/a	n/a
Numeric International Small Cap	7.5%	5.6%	7.4%	14.4%
MSCI World ex U.S. Small Cap®#	8.0%	7.3%	4.2%	10.4%
Relative Return	-0.5%	-1.7%	3.2%	4.0%
Numeric Europe Core (EUR)	5.3%	-1.5%	9.7%	16.1%
MSCI Europe®# (EUR)	4.2%	-3.3%	5.8%	11.3%
Relative Return	1.1%	1.8%	3.9%	4.8%
Numeric Japan Core (YEN)	8.5%	-13.4%	5.6%	15.5%
MSCI Japan®# (YEN)	7.2%	-13.7%	4.4%	13.4%
Relative Return	1.3%	0.3%	1.2%	2.1%
Numeric ACWI ex US Low Volatility	4.8%	8.1%	n/a	n/a
MSCI ACWI ex US®#	6.9%	5.8%	n/a	n/a
Relative Return	-2.1%	2.3%	n/a	n/a
Emerging Markets
Numeric Emerging Markets Alpha	13.5%	21.6%	6.0%	11.3%
MSCI Emerging Markets®#	9.0%	16.0%	-0.6%	3.0%
Relative Return	4.5%	5.6%	6.6%	8.3%
Numeric Emerging Markets Core	12.4%	20.5%	2.7%	n/a
MSCI Emerging Markets®#	9.0%	16.0%	-0.6%	n/a
Relative Return	3.4%	4.5%	3.3%	n/a
Numeric Emerging Markets Small Cap	9.2%	14.2%	n/a	n/a
MSCI Emerging Markets Small Cap®#	7.6%	9.1%	n/a	n/a
Relative Return	1.6%	5.1%	n/a	n/a

	Total Return			Annualised Return
NUMERIC LONG ONLY	3 months to 30 Sep 2016	9 months to 30 Sep 2016	3 years to   30 Sep 2016		5 years to   30 Sep 2016
Numeric Asia Pacific ex-Japan	14.3%	17.6%		7.8%		n/a
Russell Asia Pacific ex-Japan	9.3%	11.3%		2.5%		n/a
Relative Return	5.0%	6.3%		5.3%		n/a
NUMERIC LONG/SHORT
Numeric US Market Neutral	-0.8%	-5.7%		2.0%		2.6%
Numeric World Market Neutral	3.4%	-1.2%		3.7%		4.7%
Numeric Alternative Market Neutral	2.8%	-0.9%		3.4%		5.2%
Numeric Socially Aware Multi-Strategy	2.6%	-0.6%		3.1%		4.6%
Numeric Absolute Return	2.3%	1.9%		3.2%		4.5%
Numeric Integrated Alpha	2.2%	-0.5%		n/a		n/a
ML 91-Day T-Bill®	0.1%	0.2%		0.1%		0.1%

Investment performance is being provided solely in connection with Man Group plc's interim results and for its shareholders.  Nothing herein should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services or to invest in any investment products mentioned herein.

Source: Man database, Bloomberg, MSCI and Source. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. Returns may increase or decrease as a result of currency fluctuations. 1) Represented by Man AHL Diversified plc from 26 March 1996 to 29 October 2012, and by Man AHL Diversified (Guernsey) USD Shares - Class A from 30 October 2012 to date. The representative product was changed at the end of October 2012 due to legal and/or regulatory restrictions on Man AHL Diversified plc preventing the product from accessing the Programme's revised target allocations. Both funds are valued weekly; however, for comparative purposes, statistics have been calculated using the best quality price that is available at each calendar month end, using estimates where a final price is unavailable. Where a price, either estimate or final is unavailable on a calendar month end, the price on the closest date prior to the calendar month end has been used. 2) Represented by AHL Alpha plc from 17 October 1995 to 30 September 2012, and by AHL Strategies PCC Limited: Class Y AHL Alpha USD Shares from 1 October 2012 to 30 September 2013. The representative product was changed at the end of September 2012 due to the provisioning of fund liquidation costs in October 2012 for AHL Alpha plc, which resulted in tracking error compared with other Alpha Programme funds. Both funds are valued weekly; however, for comparative purposes, statistics have been calculated using the best quality price that is available at each calendar month end, using estimates where a final price is unavailable. Where a price, either estimate or final is unavailable on a calendar month end, the price on the closest date prior to the calendar month end has been used. Both of the track records have been adjusted to reflect the fee structure of AHL Alpha (Cayman) Limited - USD Shares. From 30 September 2013, the actual performance of AHL Alpha (Cayman) Limited - USD Shares is displayed. 3) Represented by AHL Strategies PCC: Class G AHL Evolution USD from 1 November 2006 to 30 November 2011; and by the performance track record of AHL Investment Strategies SPC: Class E AHL Evolution USD Notes from 1 December 2011 to 30 November 2012. From 1 December 2012, the track record of AHL (Cayman) SPC: Class A1 Evolution USD Shares has been shown. All returns shown are net of fees. 4) Represented by AHL Strategies PCC Limited: Class B AHL Dimension USD Shares from 3 July 2006 to 31 May 2014, and by AHL Dimension (Cayman) Ltd - F USD Shares Class from 1 June 2014 until 28 February 2015 when AHL Dimension (Cayman) Ltd - A USD Shares Class is used. Representative fees of 1.5% Management Fee and 20% Performance Fee have been applied. 5) Represented by GLG European Long Short Fund - Class D Unrestricted - EUR. 6) Represented by Man GLG European Equity Alternative IN EUR. 7) Represented by Man GLG European Alpha Alternative IN EUR. 8) Represented by Man GLG European Mid-Cap Equity Alternative IN H USD. 9) Represented by Man GLG Alpha Select Alternative IN H EUR. 10) Represented by Man GLG Cred-Eq Alternative Class IN EUR. 11) Represented by Man GLG Value Opportunity Class B USD Unrestricted. 12) Represented by GLG Market Neutral Fund - Class Z Unrestricted - USD. 13) Represented by Man GLG European Distressed Fund - Class A - USD. 14) Represented by the gross return of Man GLG Multi-Strategy Fund - Class A - USD Shares until 31 December 2012. From 1 January 2013 the performance of Man Multi-Strategy Fund - Class G - USD Shares is displayed. 15) Represented by GLG Global Convertible Fund - Class A - USD. 16) Represented by Man GLG Global Convertible UCITS Fund - Class IM USD. 17) Represented by Man GLG Japan CoreAlpha Equity Fund - Class I JPY. 18) Represented by Man GLG Global Equity Fund - Class I T USD to Class I USD (13/05/2011). 19) Represented by Man GLG Strategic Bond Fund Class C. 20) Represented by Man GLG Undervalued Assets Fund - C Accumulation Shares. 21) Represented by Man GLG European Equity Class I EUR. 22) Represented by Man GLG UK Select Fund Class C. Accumulation Shares. 23) Represented by Man GLG Continental European Growth Fund Class C Accumulation Shares. 24) Represented by Man GLG Global Emerging Markets Debt Total Return Class I USD. 25) Represented by FRM Diversified II USD A. 26) Represented by MSCI World Net Total Return Index hedged to USD. 27) Represented by Citigroup World Government Bond Index hedged to USD (total return). 28) Represented by Citigroup High Grade Corp Bond TR. 29) HFRI and HFRX index performance over the past 4 months is subject to change. 30) The historic Barclay BTOP 50 Index data is subject to change.

Please note that the dates in brackets represent the date of the join in the linked track records.

*Estimated.

#The reference index listed by Numeric is intended to best represent the strategy’s universe. Comparison to an index is for informational purposes only.

* Returns are based on the performance of only unrestricted accounts within each strategy. Performance is net-of-fees. Returns of accounts with client restrictions may differ.

Past or projected performance is no indication of future results. Returns may increase or decrease as a result of currency fluctuations. Please see the Net-of-Fee Return Information section of this presentation for a full listing of the fees and expenses deducted for each strategy identified.

Conference call

A conference call for investors and analysts will be held at 10.30 am (UK time).

Live Conference Call Dial in Numbers:

UK Toll Number:                       [phone]

UK Toll-Free Number:              0808 237 0036

US Toll Number:                       [phone]

US Toll-Free Number:              1 877 841 4559

Playback Details

UK Toll Number:                       [phone]

UK Toll-Free Number:              0808 237 0026

US Toll-Free Number:              1 866 535 8030

Conference number                 677955#

Enquiries

Andrea Waters

Head of Investor Relations

[phone]

[e-mail]

Rosanna Konarzewski

Global Head of Communications

[phone]

[e-mail]

Michael Turner

Finsbury

[phone]

About Man Group

Man Group is one of the world's largest independent alternative investment managers, and a leader in  liquid investment strategies. Across its four investment managers (Man AHL, Man FRM, Man GLG and Man Numeric), Man Group has diverse hedge funds strategies and long only products across equity, credit, managed futures, convertibles, emerging markets and multi-manager solutions. At 30 September 2016, Man Group's funds under management were $80.7 billion.

The original business was founded in 1783. Today, Man Group plc is listed on the London Stock Exchange under the ticker EMG.L and is a constituent of the FTSE 250 Index.

Man Group also supports many awards, charities and initiatives around the world, including sponsorship of the Man Booker literary prizes. Further information can be found at www.man.com.

Forward looking statements and other important information

This document contains forward-looking statements with respect to the financial condition, results and business of Man Group plc. By their nature, forward-looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Man Group plc's actual future results may differ materially from the results expressed or implied in these forward-looking statements.

The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement. Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer to provide investment advisory services or to invest in any investment products mentioned herein.

This announcement contains inside information.

 

END

 

 

TSTMJBPTMBMBBLF