Business
Half year results for the period ended 30 June 23
Half year results for the period ended 30 June 23.
About this update from Man Group Plc
[{"type":"text","content":"\n\nPress Release\n \n01 August 2023\n \n \nHalf year results for the six months ended 30 June 2023\n \nKey points\nNet inflows reflect continued demand for our range of investment strategies and solutions\no Record assets under management (AUM) of $151.7 billion (31 December 2022: $143.3 billion)\no Net inflows of $2.6 billion for the six months ended 30 June 2023, 2.5% ahead of the industry[KPI]\no Positive investment performance of $5.1 billion, 0.6% ahead of peers[KPI]\nResilient core management fee EPS (diluted) of 8.7¢ demonstrates the benefit of our diversified model\no Run-rate net management fee revenue of $946 million as at 30 June 2023 (31 December 2022: $917 million)\no $32 million of core performance fees reflect a difficult first quarter for trend-following absolute return strategies \no Core EPS (diluted) of 8.9¢[KPI] (H1 2022: 24.0¢) and statutory EPS (diluted) of 6.8¢ (H1 2022: 22.7¢)\nStrategic acquisition to support our long-term growth prospects and consistent shareholder returns\no Announced the acquisition of Varagon Capital Partners, a leading US middle-market private credit manager\no Completed the $125 million share buyback announced in March 2023\no Recommended interim dividend of 5.6¢, in line with guidance (H1 2022: 5.6¢ per share)\nRobyn Grew to take over from Luke Ellis as Chief Executive Officer on 1 September 2023\n \nLuke Ellis, Chief Executive Officer of Man Group, said:\n\"The first half of 2023 was a period of sustained organic growth for Man Group and I'm delighted to report record assets under management of $151.7 billion, and net inflows of $2.6 billion. These flows were 2.5% ahead of the industry, highlighting the broad-based demand we are seeing for the range of differentiated investment strategies and solutions that we offer, as well as the quality of our longstanding relationships with allocators around the world.\n\"It has been a great privilege leading Man Group during a period of major evolution and progression; through our unwavering focus on investment performance and client service, alongside investing strategically in our technology, the business has grown and diversified significantly since my appointment. I have no doubt that the firm will continue to go from strength to strength under Robyn's ...