Man Group has told investors that assets under management reached $270.9bn as at 30 September, a new record for the London-listed hedge fund manager, up from $253.6bn at the end of June.
The quarter brought net inflows of $10.1bn alongside positive investment performance of $5.9bn, with the remainder of the increase coming from other movements including currency effects.
The long-only business was the main driver of growth, with AUM rising to $153.8bn from $143.1bn, helped by $8.2bn of net inflows and $2.9bn of positive investment performance.
Within that, long-only equity AUM climbed to $113.2bn from $104.2bn, with systematic strategies alone attracting net inflows and gaining in value to reach $92.3bn.
The alternative business grew more modestly, to $117.1bn from $110.5bn, with liquid alternative strategies accounting for most of the gain as AUM there rose to $99.7bn from $92.9bn on $1.9bn of net inflows and $3bn of investment performance.
Private market AUM was broadly flat at $17.4bn, down slightly from $17.6bn, with no net flows in the quarter.
Performance across strategies was mixed over the three months. AHL Evolution returned 9.6% and Man Liquid Alpha returned 11.4%, while Man TargetRisk fell 2.7% and Man Alpha Select Alternative declined 5.4%.
Man Group had reported record AUM of $253.6bn at its half-year results in July, when it also posted core management fee earnings per share up 46% to 12.4 cents and declared an unchanged interim dividend of 5.7 cents per share.
The company had completed $29m of its up-to-$50m share buyback programme as at 24 July, a programme it launched in May as part of what the company has described as a policy of returning surplus capital after funding its progressive dividend and growth plans.
