Strong inflows boost Man Group's funds under management to $57.7 bln

LONDON Fri Aug 1, 2014 2:24am EDT

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LONDON Aug 1 (Reuters) - Man Group's funds under management rose 7 percent to $57.7 billion in the first half helped by net inflows of $2.8 billion, the London-listed hedge fund firm said on Friday.

Sales rose 91 percent to $12.4 billion in the first half as compared with the same period last year, while redemptions fell 17 percent to $9.6 billion, the money manager said, adding that it remained cautious heading into the second half of the year.

Investment performance added $700 million in the first half.

The money manager announced an interim dividend of 4 cents per share in a statement and said the recent acquisition of U.S. fund of fund manager Pine Grove was due to complete shortly. (Reporting by Nishant Kumar; editing by Simon Jessop)

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