Assets under management at Man Group rose by $5.3bn (€3.9bn) to $67bn in the three months to June on the back of strong sales, as the UK-listed hedge fund group's board declared it remains "very confident" about its business prospects this year.

Man, which is trying to float its MF Global brokerage arm in the US, said at its annual meeting today that fund sales in its fiscal first-quarter were $3.8bn, helping lift overall assets under management from $61.7bn at the end of March.