Business
Half year results for the period ended 30 Jun 2024
Half year results for the period ended 30 Jun 2024.
About this update from Man Group Plc
[{"type":"text","content":"\n\nPress Release\n \n26 July 2024\n \n \nHalf year results for the six months ended 30 June 2024\n \nKey points\nStrong investment performance across our diversified range of investment strategies and solutions\no Positive investment performance of $11.1 billion, or +2.1% relative to peers[KPI]\no Net inflows of $0.9 billion, 1.8% ahead of the industry[KPI]\no AUM1 of $178.2 billion as at 30 June 2024 (31 December 2023: $167.5 billion)\nCore management fee EPS growth[KPI] of 26%, highlighting the strength of our business model\no Run-rate net management fees of $1,128 million as at 30 June 2024 (31 December 2023: $1,087 million)\no Core performance fees of $170 million from both alternative and long-only strategies\no Statutory EPS (diluted) of 13.8¢ and core EPS (diluted) of 17.1¢[KPI]\nRobust balance sheet and disciplined capital policy to support our long-term growth ambitions\no Net tangible assets of $779 million as at 30 June 2024 (31 December 2023: $782 million)\no Seed investments of $549 million (31 December 2023: $595 million)\no Recommended interim dividend of 5.6¢, in line with previous guidance\no $11 million of the share buyback announced in February 2024 was outstanding at 24 July\nGood progress against our multi-year strategic priorities, including:\no Delivered strong growth in liquid credit strategies. US direct lending proceeding in line with expectations\no Launched new initiatives focused on distributing high-quality investment content via the wealth channel\no Completed structural reorganisation around our core competencies of Systematic, Discretionary and Solutions\n \nRobyn Grew, Chief Executive Officer of Man Group, said:\n\"We have started the year strongly, delivering for our clients in a market environment driven by the evolution of forward interest rates, expectations of technological disruption, and the outcome of elections globally. We generated investment performance of $11.1 billion, with a broad range of our strategies contributing. For context, our flagship multi-strategy alternative offering gained 13.3%. We were also pleased to record net inflows of $0.9 billion during another challenging period for asset raising in the industry. We ended June with AUM of $178.2 billion, and delivered core ...