Man Group plc announces the following pre-close trading update for the financial year ending 31 March 2010.
Key points – operating
- Funds under Management (FUM) at 31 March 2010 currently estimated at $39.1 billion (31 December 2009: $42.4 billion; 31 March 2009: $46.8 billion)
- Fourth quarter sales remain subdued at an estimated $1.0 billion; redemption levels stable ($2.5 billion in Q4)
- Mandate wins for the multi-manager business of around $1.5 billion during the fourth quarter – to be included in FUM over the coming quarters
- Trading conditions for the managed futures style have improved, giving positive AHL performance for the calendar year to date
Key points - financial
- Profit before tax and adjusting items for the year ending 31 March 2010 estimated at $530 million
- Diluted earnings per share of an estimated 23 cents
- Financial position remains strong, with a regulatory capital surplus of $1.5 billion and net cash of $1.4 billion
Dividend
- Board intends to recommend a final dividend of 24.8 cents per share, giving an unchanged total dividend for the year of 44 cents per share
To view the full press release please download the PDF
