Man Group, the world's largest hedge fund manager, reported net quarterly inflows this morning for the first time in two years, as the firm's acquisition of GLG Partners starts showing signs of paying off. GLG's performance this year also offset losses in Man Group's computer-driven hedge fund, AHL.

In a pre-close trading update for the financial year ending March 31, Man Group beat analyst expectations, reporting estimated inflows of $700m in the fourth quarter. This reflected $5.3bn sales, predominantly in hedge funds and long only funds, and $4.6bn redemptions.