Man Group Plc New (MNGPF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us today. I'm Robin Grew, the CEO of Man Group, and I'm joined by our CFO, Antoine Voltaire. I'll begin with a high-level overview of our investment performance and client engagement in 2025. Antoine will then walk you through the financial results, after which I'll update you on our multi-year priorities, now two years on from when we first announced our strategy, before providing longer-term context on the evolution and positioning of our business. 2025 was a year of pronounced peaks and troughs for markets, where periods of volatility tested investor resolve before conditions eventually stabilized. We navigated shifting sentiment and at times unprecedented reversals, absorbing shocks from deep seek in January, tariff announcements in April, ongoing geopolitical tensions and debate over the sustainability of fiscal spending and AI infrastructure investment. Markets demonstrated a remarkable capacity to withstand stress, though the path was far from smooth. Given this environment, I'm pleased to report a set of results that shows just how resilient demand group is. Antoine will go into more detail later, but I'll start with some headlines. Firstly, I'm delighted that we ended the year with AUM of $228 billion, driven by 21.4 billion of positive investment performance and $28.7 billion of net inflows. Through continued cost and capital discipline, we generated core earnings per share of 27.6 cents. Along with this, we also executed against our strategic priorities, completing the Barden Hill acquisition, simplifying our operating model, and positioning the firm for long-term growth. These results underscore the continued demand for our differentiated offering, the depth of our client relationships, and crucially, the ...