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Man Group says assets under management down 2.5 pct in Q3

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 15 (Reuters) - Man Group (LSE: EMG.L - news) , the world's largest listed hedge fund, reported a 2.5 percent fall in assets under management in the three months to the end of September, hit by sharp falls in global markets during the period.

At the end of the quarter, funds under management had fallen to $76.8 billion from $78.8 billion at the end of June.

Collectively, Man (Swiss: MAN.SW - news) 's funds lost $2.7 billion in the period, the company said in a statement. Some of its GLG strategies, focused on rising stock prices, were among the worst-hit.

After a period of several years diversifying away from its core AHL systematic trading strategies, Man's computer-based funds returned a positive performance during the quarter.

(Reporting by Simon Jessop, editing by Sinead Cruise)