Funds on the rise again at Man Group

Man Group, the world's largest listed hedge fund manager, has seen the first quarterly net inflow of funds for two years, it said today.

Last year's takeover of GLG has radically altered the group so that its performance in January and February countered the negative returns at the flagship AHL funds.

March has seen funds turning down again, particularly in the immediate aftermath of the Japan earthquake.

Despite that, Man expects to end the financial year with funds under management up from $39.4 billion (£24.6 billion) to $69 billion.

Pre-tax profits are expected to be unchanged at $560 million.