Man Group shares slip as $6bn redemption weighs on Q1 flows despite strong investment performance

Panmure Liberum says Man Group's current rating fails to reflect its performance fee potential, with the stock trading at just 10 times current-year earnings Man Group PLC (LSE:EMG), the listed alternative asset manager, saw its shares fall 5% to 252.2p after first-quarter assets under management (AUM) came in marginally below expectations, dragged down by a large single-client redemption that masked otherwise encouraging investment performance. AUM at the end of the first quarter stood at $228.7 billion, against Panmure Liberum's forecast of $231.9 billion and a consensus estimate of $231.3 billion.