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Bulletin: Ratings On U.K.-Based Hedge Fund Manager Man Group PLC Unchanged Despite Decline In Assets Under Management Sep 11
Standard & Poors, Sep 2011
Abstract
LONDON (Standard & Poor's) Sept. 30, 2011--Standard & Poor's Ratings Services said today that the ratings and outlook on U.K.-based hedge fund manager Man Group PLC were unaffected by the 8.5% decline in assets under management (AUM) during the quarter ended Sept. 30, 2011, which was below our base-case expectation of broadly flat AUM growth. Man's preclose trading update, released on Sept. 28, 2011, indicated a decline in AUM from $71 billion at June 30, 2011 to $65 billion. This was due to weak investment performance, net outflows, and the impact of foreign exchange movements on reported AUM. In our view, the quarterly decline in AUM is a result of market volatility and near-term macroeconomic uncertainty. While we expect the...
Companies mentioned in this report are: Man Group PLC
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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