Man Group’s long-only funds, which aim to profit when markets rise, and its alternatives strategies took in the majority of new assets, adding $4.5 billion and $3.7 billion, respectively, over the first six months.

The only strategy to lose money was discretionary stock-picking unit GLG, from which investors pulled $900 million during the same time period, despite improved performance, with two GLG funds making double-digit returns.

Most of Man Group’s funds posted a positive performance with the exception of quantitative unit AHL, which racked up losses in three of its four funds.

Adjusted profit before tax increased by 48 percent to $145 million compared to the first six months of 2016.

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