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Man Group

PRI reporting framework 2018

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Organisational Overview
Basic information [OO 01 - 09] Asset class implementation gateway indicators [OO 10 - 12] Peering questions [OO LE 01 - INF 03]
Strategy and Governance
Investment policy [SG 01 - 04] Objectives and strategies [SG 05 - 06] Governance and human resources [SG 07 - 08] Promoting responsible investment [SG 09 - 11] Outsourcing to fiduciary managers and investment consultants [SG 12] ESG issues in asset allocation [SG 13 - 15] Asset class implementation not reported in other modules [SG 16 - 17] Innovation [SG 18] Communication [SG 19]
Direct - Listed Equity Incorporation
ESG incorporation in actively managed listed equities [LEI 01 - 10] Implementation processes [LEI 01 - 10] (A) Implementation: Screening [LEI 04 - 06] (C) Implementation: Integration of ESG issues [LEI 08 - 10] Outputs and outcomes [LEI 12 - 14]
Direct - Listed Equity Active Ownership
Engagement [LEA 01 - 14] Overview [LEA 01 - 02] Process [LEA 03 - 10] Process for engagements run internally [LEA 03 - 04] Process for engagements conducted via collaborations [LEA 05 - 06] Process for engagements conducted with/on your behalf by service providers [LEA 07 - 08] General processes for all three groups of engagers [LEA 09 - 10] Outputs and outcomes [LEA 11 - 14] (Proxy) voting and shareholder resolutions [LEA 15 - 24] Overview [LEA 15] Process [LEA 16 - 20] Outputs and outcomes [LEA 21 - 24]
Direct - Fixed Income
ESG incorporation in actively managed fixed income [FI 01 - 13] Implementation processes [FI 01 - 03] (A) Implementation: Screening [FI 04 - 07] (C) Implementation: Integration [FI 11 - 13] Fixed income - Engagement [FI 15 - 17] Outputs and outcomes [FI 18 - 19]
Assurance
Assurance [CM1 01.1 - 01.7]
Export Public Responses
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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

% of assets under management (AUM) in ranges

% of assets under management (AUM) in ranges

Further options for investment managers (may be selected in addition to the above)

01.2. Please describe your hedge fund strategy and classification [OPTIONAL]

Options presented for hedge funds:

01.3. Additional information. [Optional]

Man Group represents a number of different alternative (hedge fund) strategies across its discretionary (Man GLG) and systematic subgroups (Man AHL and Man Numeric). We have chosen to highlight Man GLG's main European Long/Short Fund managed as a market neutral strategy, although our systematic groups also manage long/short strategies in an equities-only format as well as broader CTA/managed futures formats that include listed issuers in equities, fixed income (corporate and sovereign), FX markets, commodities, derivaties, etc. 

Man GLG's market neutral ELS fund is a multi-manager fund (all internal managers) offering discreet, sector-specific for factor-specific strategies. Man GLG is embedding ESG data analytics via proprietary Dragon system which is display ESG factor risk alongisde other factors (ie, growth, momentum, value) and allow managers to decompose specific ESG risks and, in the future, run sensitivity simulations to solve for desired ESG outcomes and exposure. 

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

1325 FTE

02.4. Additional information. [Optional]

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

Man Group elevated PRI signatory status to the group level in September 2017. Prior to that, Man GLG (GLG Partners) was a PRI signatory since 2012. Man Numeric (Numeric Investors) was a signatory since 2014. Both Man GLG and Man Numeric relinquished their PRi signatory status concurrent to Man Group elevating its signatory status. 

In first becoming a signatory in 2012, Man Group discussed with PRI and ultimately determined that the PRI's Six Principles were most relevant to its discretionary business, GLG Partners. Since then and culminating with the elevation of PRI signatory status at the Man Group level, Man determined that best practices and the ability better define which of the Six Principles were applicable made PRI more relevant to the group level.  

More information can be found at https://www.man.com/responsible-investment. 

 

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2017

04.2. Indicate your total AUM at the end of your reporting year, Exclude subsidiaries you have chosen not to report on and any advisory/execution only assets.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

Man Group is one of the world’s largest independent active investment management firms, focussed on delivering attractive risk adjusted performance for our clients.

Our investment management businesses, Man AHL, Man Numeric, Man GLG, Man FRM and Man GPM, have combined funds under management of US$ 109.1bn*. These are centrally supported by an integrated business model where our back and middle office functions, as well as our sales capacity, work seamlessly across the whole group.

Institutional AUM represents 82% of total AUM.  AUM by subgroup breaks down to:

Man AHL $24bn
Man Numeric $31.9bn
Man GLG $35bn
Man FRM $17.1bn
Man GPM $2.2bn

More information can be found at https://www.man.com/investor-relations. 

OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 10-50% 39.6 0 0
Fixed income <10% 1.65 0 0
Private equity 0 0 0 0
Property <10% 2 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds >50% 54.7 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Other (1), specify <10% 2 0 0
Other (2), specify 0 0 0 0

'Other (1)' specified 

          This figure represents $2.2bn of Convertible exposure that we have not included in the Fixed Income category.

06.2. Publish asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]

The attached image provides a breakdown of total Man Group AUM across a number of currencies ending December 2017. This splits Man AUM between alternative (Hedge fund) and long-only (Listed equity) categories, distinguishing subcategories of Absolute return, Total return and Multi-manager solutions. 

This and other breakdowns of Man's AUM may be found on https://www.man.com/results-for-the-financial-year-ended-31-december-2017. 

OO 07. Fixed income AUM breakdown

07.1. Provide to the nearest 5% the percentage breakdown of your Fixed Income AUM at the end of your reporting year, using the following categories.

Internally managed
10 SSA
5 Corporate (financial)
40 Corporate (non-financial)
45 Securitised
Total 100%

OO 08. Segregated mandates or pooled funds (Not Applicable)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

 

 

Developed Markets

  Emerging, Frontier and Other Markets
Total100%

09.2. Additional information. [Optional]

Man's EM Fixed Income strategies account for ~65% of total Fixed Income AUM, while Credit Long Only strategies including Corporaty, Flexible Bond and Strategic Bond Funds, accounting for 35%. 
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