Shares in the British company jumped as much as 10% in early Tuesday trading as investors cheered the 6% growth in fees to $779 million, which came in a quarter higher than analyst forecasts, and an 18% increase in full-year core pretax profit.
Assets under management dipped 4% to $143.3 billion in the year to end-December, also beating analyst expectations, after a rise in net inflows in the fourth quarter.
Finance chief Antoine Forterre told Reuters volatile markets helped his firm, which can make money when asset values fall as well as rise, meaning bigger returns for its top strategies.
Man recorded net inflows of $3.1 billion for 2022, down 77% from a year earlier, but 5.3% higher than the average in the wider fund industry.
The company also said it would kick off a new $125 million share buyback programme when it has finished the current one, which is 91% complete.
A September rout in British gilt markets drove many UK pension funds to…
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