Peter Clarke, Chief Executive of Man, said:
"Trading conditions have been tough for Man in the second half of 2011. Investment performance varied significantly across styles, with market volatility and reduced market liquidity impacting trading opportunities. Although some of our funds performed strongly and sales held up well, we experienced a net outflow in the last two quarters, albeit with reduced redemptions in the final three months.
"Looking ahead, our unique breadth of investment styles positions us well to capture positive performance as markets normalise and trading opportunities re-emerge. With a strong capital base and continued focus on efficiency and performance, we are well placed to benefit when investor demand improves."
Financial position and dividend
Man's financial position remains robust, with net tangible assets of $1.6 billion, net cash of $600 million and total available liquidity resources of $3.2 billion. After the repurchase of shares and the payment of the interim dividend, the regulatory capital surplus on 31 December 2011 was around $850 million.
As previously announced, the Board expects to propose a final dividend for the three month period to 31 December 2011 of 7.0 cents per share, to give a maintained total dividend, pro-rated for the nine month period, of 16.5 cents per share.
Provisional dates for Man's next two dividend payments are shown below.
Final dividend (for the nine months to December 2011)
Ex dividend date: 25 April 2012
Record date: 27 April 2012
AGM: 1 May 2012
Dividend paid: 17 May 2012
Six month interim dividend (relating to the 12 months to December 2012)
Ex dividend date: August 2012
Record date: August 2012
Dividend paid: September 2012
