Man Group Plc reported funds under management of $103.5 billion as of Sept. 30, up from $95.9 billion at the end of June and $80.7 billion a year ago.
Net inflows amounted to $2.8 billion in the third quarter, driven by strong inflows into alternative risk premia and emerging market debt strategies. The group also reported a positive investment movement of $3.3 billion.
Man Group also booked positive foreign exchange movements of about $900 million in the quarter, primarily driven by the weakening of the U.S. dollar against the euro and the British pound sterling, and other positive movements of $600 million.
Funds under management in the AHL business totaled $21.5 billion at September-end, compared to $19.2 billion as of June 30, while funds under management in Numeric rose to $30.1 billion from $27.3 billion.
Man Group's GLG business booked funds under management of $32.9 billion as of Sept. 30, up from $31.2 billion at June-end, while funds under management in FRM stood at $16.8 billion, compared to $16.2 billion at the end of June.
The group also said it will absorb research costs for the majority of its business following the implementation in Europe of the revised Markets in Financial Instruments Directive, or MiFID II, in January 2018. The decision is expected to cost the company between $10 million and $15 million, including previously highlighted administration costs.
The group added that it intends to repurchase up to $100 million of shares, and that it will continue to review further potential acquisition opportunities.