British hedge fund manager Man Group on Tuesday revealed a first-half net loss of $164 million (135 million euros), blaming "turbulent" financial markets and economic uncertainty. The loss after tax, suffered in the six months to the end of June, compared with a net profit of $70 million in the first half of 2011, Man Group said in a statement. Total funds under management dived almost ten percent to $52.7 billion at the end of June from $58.4 billion at the end of December. "Against a turbulent market and economic background, Man's funds under management have declined," said chief executive Peter Clarke. "The result is a marked decline in underlying profitability." Clarke unveiled another round of cost-cutting measures to save the group $100 million over the next 18 months and steer it back to profit.
GMT 17:19 2018 Thursday ,11 January
China factory gate inflation slows to 13-month lowGMT 17:50 2018 Wednesday ,10 January
German industrial output rebounds in NovemberGMT 17:39 2018 Wednesday ,10 January
Samsung tips record Q4 operating profit of more than $14 bnGMT 17:29 2018 Tuesday ,09 January
German industrial orders dip in NovemberGMT 15:36 2018 Thursday ,04 January
China factory activity accelerated in December: CaixinGMT 13:33 2018 Wednesday ,03 January
Turkey inflation rate eases but still stubbornly high in DecemberGMT 16:27 2018 Monday ,01 January
China manufacturing activity slows in DecemberGMT 17:36 2017 Sunday ,31 December
Spain to leave EU's deficit 'sin bin' next year: Rajoy
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor