Man Group shares rise 3.3 pct after Reuters inflows exclusive

Shares in FTSE 100 company Man Group rose 3.3 percent on June 21 after a Reuters exclusive on the worlds largest listed hedge fund managers net inflows left Bloomberg trailing. Oriel analyst Vivek Raja quoted the Reuters interview as the primary reason for the share price rise in a note to clients: Chief Executive Peter Clarke made some positive remarks in fund inflows so far in Q2 referring to a strong start to the quarter. Our optimism would suggest were already ahead of Q1, he told Reuters Insider TV in an interview on Monday. Clarke also told Reuters that a new open-ended version of Mans flagship AHL fund that was recently launched in Japan had now raised $2.2bn (£1.36bn) up from the $2bn previously quoted. Net inflows and fundraisings are seen as a key measure of Man Groups health, and Bloomberg spent the rest of the day chasing Man Group for an interview. The comments were also cited by the Independents market report as boosting Man`s shares.