LONDON (HedgeWorld.com)--Man Group plc said demand for its alternative investment products continues to be strong, generating sales of more than US$4.5 billion last year.
"We expect to see continued high levels of demand for our products as customers recognize the advantages of including structured alternative investment products in the portfolio," said Man Chief Executive Stanley Fink in a statement. Man has US$10.5 billion under management, which is 57% higher than it was a year ago. "Our sales network, which now total over 900 intermediaries globally, is key to accessing this demand," Mr. Fink said.
As a result, Man executives anticipate profits to surpass the consensus of stock analysts. Man Group's share price was 3% higher Monday on the news, but it is still down significantly from its 52-week high. Investors have voiced concern about performance of Man's products, and how that might affect the firm's profits.
Man currently is working on expanding its presence in the United States with an effort led by John Kelly in its Chicago offices. Previous HedgeWorld Story