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Man Group pretax profit jumps 62 pct to $481 mln

Reuters - UK Focus

LONDON, Feb 25 (Reuters) - Man Group Plc (LSE: EMG.L - news) reported a 62 percent jump in adjusted pretax profit to $481 million for 2014 as it benefited from cost savings and booked higher performance fees.

The world's biggest listed hedge fund firm said on Wednesday its assets under management rose by 35 percent to 72.9 billion during the year and the firm received a net inflows of $3.3 billion as compared to net outflows in 2013.

The money manager proposed a final dividend of 6.1 cents per share, raising the total dividend for the year to 10.1 cents, up from 7.9 cents a year earlier.

It also flagged an intension to repurchase $175 million worth of its shares. (Reporting by Nishant Kumar, editing by Sinead Cruise)