Wealthy individuals have been sending in cheques to invest with Man Group in the last quarter as the hedge fund industry stabilised, although their subscriptions could not match institutional investor redemptions, which contributed to an almost $4bn (€2.9bn) fall in total assets managed by the company.

In an update on Man Group's performance and asset size for the three months to the end of June, chief executive Peter Clarke said this morning that private clients invested a net $1.9bn in Man's products over the period. However, institutional investors withdrew $3.6bn.