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FTSE 250 movers: MAN jumps as AuM rises; Banks under pressure
(Sharecast News) - FTSE 250 (MCX) 21,854.44 -0.62% Man Group gained after the fund manager reported a solid increase in assets under management, as investment performance gains picked up sharply from the first half.
AUM rose to a new peak of $213.9bn by 30 September, up $20.6bn from $193.3bn three months earlier - already a record high - and $174.9m a year earlier.
Net inflows were $9.7bn, following the $17.6bn of positive flows reported in the first half.
Meanwhile, the investment performance resulted in a gain of $10m, up from just $2.5bn in the first half following a "particularly volatile" period for financial markets, the company said at its interim results in July.
In Man Group's latest update, chief executive Robyn Grew said in July that the company had entered the second half with "strong momentum, supported by Man Group's core strengths: exceptional people, cutting-edge technology, and a genuinely differentiated investment approach".
Worries over the stability of the US bank sector after two regional lenders revealed they had been exposed to fraudulent loans saw TBC Bank and Aberdeen both fall.
FTSE 250 - Risers
Man Group (EMG) 200.40p 6.65% Wizz Air Holdings (WIZZ) 1,170.00p 2.09% Serco Group (SRP) 245.00p 1.49% Genus (GNS) 2,730.00p 1.49% Morgan Advanced Materials (MGAM) 198.80p 1.33% Barr (A.G.) (BAG) 686.00p 1.18% Pagegroup (PAGE) 242.80p 1.17% Tate & Lyle (TATE) 380.80p 1.12% Mitchells & Butlers (MAB) 246.50p 1.02% Ruffer Investment Company Ltd Red PTG Pref Shares (RICA) 298.50p 1.02%
FTSE 250 - Fallers
Endeavour Mining (EDV) 3,342.00p -5.86% Hochschild Mining (HOC) 417.40p -5.39% TBC Bank Group (TBCG) 4,125.00p -4.07% Oxford Biomedica (OXB) 595.00p -3.57% Chemring Group (CHG) 536.00p -3.42% Lion Finance Group (BGEO) 7,410.00p -3.33% Travis Perkins (TPK) 604.00p -2.89% Carnival (CCL) 1,898.50p -2.89% BlackRock World Mining Trust (BRWM) 677.00p -2.73% Abrdn (ABDN) 199.60p -2.63%
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