Man Group Plc New (MNGPF) Q4 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.697 Good morning, everyone, and thank you for joining us today. 00:00:03.697 -- 00:00:08.886 I'm Robin Grew, the CEO of Man Group, and I'm joined by our CFO, Antoine 00:00:08.886 -- 00:00:13.935 Fortier. As usual, I'll start with some highlights and then Antoine will take 00:00:13.935 -- 00:00:19.124 you through the numbers. After that, I'll provide an update on the progress we made 00:00:19.124 -- 00:00:23.428 last year against our strategic priorities. 00:00:23.622 -- 00:00:28.672 It's now been five years since COVID first spread around the world, and it seems that 00:00:28.672 -- 00:00:30.615 every year since has been one of surprises. 00:00:30.615 -- 00:00:32.359 2024 00:00:32.359 -- 00:00:37.848 was no different, as US exceptionalism dominated the global narrative. 00:00:37.848 -- 00:00:42.874 Equities continue to rally, driven by optimism around a potential soft landing 00:00:42.874 -- 00:00:48.462 for the US economy, the sustained momentum of the AI boom and Trump's pro-business 00:00:48.462 -- 00:00:53.728 agenda. Fixed income and currencies, however, experienced a more volatile and at times 00:00:53.728 -- 00:00:58.955 turbulent year. Although the Fed cut interest rates three times, persistent 00:00:58.955 -- 00:01:04.222 inflation and oscillating expectations of monetary policy easing, 00:01:04.222 -- 00:01:09.341 that is, kept markets under pressure. Meanwhile, commodity markets were 00:01:09.341 -- 00:01:15.268 shaped by geopolitical disruptions and evolving supply-demand dynamics. 00:01:15.268 -- 00:01:20.634 Energy markets in particular saw considerable fluctuations driven by periods of escalation 00:01:20.634 -- 00:01:25.780 and hopes of de-escalation in the Middle Eastern Europe, unstable supply chains, 00:01:25.780 -- ...