Man Group Plc reported $1.6 billion of outflows from its funds during the first three months of the year, the most in any quarter in almost four years. Its shares fell.
The outflows were mainly from the hedge fund firm’s alternative money pools and compared with company-compiled analyst estimates of $1.3 billion of inflows. Assets under management rose to a record $175.7 billion as the outflows were offset by $9.8 billion in performance gains, according to a statement Friday.