Man Group fails to staunch outflow of client funds

Hedge fund manager Man Group has suffered a net withdrawal of client funds for a fifth straight quarter as its struggle to revive its fortunes is hit by poor returns from its main fund.

Man, whose shares are down nearly 70 per cent since the start of last year due to outflows and poor fund returns, said clients withdrew a net US$2.2 billion over the three months through September, up from US$1.4 billion the previous quarter.

The company warned there were few signs of improvement.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1064433/man-group-fails-staunch-outflow-client-funds