LONDON Feb 27 Man Group said funds
under management fell 5 percent in 2013 and market conditions
were challenging, although the pace of outflows had slowed.
The company said FuM at the end of December was $54.1
billion, down from $57 billion the previous year, although
pretax profit rose 8 percent to $297 million, beating a
consensus estimate of $228 million.
"Investment performance in 2013 was reasonable on a relative
basis and flows showed modest recovery towards the end of the
year after a weaker first half," Chief Executive Manny Roman
said in a statement.
The company said it had proposed a final dividend of 5.3
cents a share, and also announced a share buyback totalling $115