Man Group reported a decline in profits linked to the poor performance of its AHL fund this morning, but analysts said that the fund’s improving performance since the end of quantitative easing could lift the company over coming months.

Man estimated in its pre-close trading statement today that its assets under management will fall to $39.1bn (€29.2bn) at the end of this month, down from $42.4bn at the end of December. A net $1.5bn was pulled from funds over the last three months, bringing the annual figure to $4.5bn of outflows.