Man Group (EMG) Q1 2025 TU earnings summary

Executive summary

• Assets under management (AUM) rose to $172.6bn as of 31 March 2025, up from $168.6bn at 31 December 2024.

• Estimated AUM as of 14 April 2025 was $167.0bn, with run-rate net management fees of $1,020m.

Financial highlights

• Net AUM increased by $4.0bn in Q1 2025, driven by net inflows of $3.6bn and positive other movements of $1.5bn, partially offset by negative investment performance of $1.1bn.

• Absolute return AUM declined from $45.3bn to $43.1bn due to negative investment performance.

• Discretionary long-only AUM grew from $28.8bn to $33.2bn, supported by strong net flows and positive performance.

Segment performance

• Absolute return strategies saw negative returns, with AHL Alpha down 4.5% and AHL Diversified down 7.9% for the quarter.

• Total return strategies posted positive quarterly returns, with Man TargetRisk up 1.3% and Man Alternative Risk Premia up 2.0%.

• Systematic long-only strategies had mixed results; Numeric Global Core returned -1.1% while Numeric Europe Core returned 4.4%.

• Discretionary long-only strategies performed well, with Man High Yield Opportunities up 2.0% and Man Global Investment Grade Opportunities up 3.1%.