Deutsche Bank Rating Change and Price Target
Deutsche Bank downgraded Man Group plc to a “hold” rating from “buy” and raised its price target to 310 pence, up from the previous target of 295 pence, as noted in a research note authored by analyst David McCann.
Share Performance
Man Group’s shares delivered a total shareholder return of 34% year‑to‑date in 2026, markedly outpacing the FTSE All‑Share index’s 7% gain over the same period. For the full year 2025, the company posted a 16% total shareholder return, with a 17% decline in the first half and a 39% rise in the second half, compared with a 24% gain for the FTSE All‑Share index.
Analyst Commentary
McCann attributed the strong 2026 performance to a recovery in fund performance across most flagship funds during the second half of 2025, which continued into early 2026 and has largely held ground since. He highlighted a potentially healthier flow outlook but cautioned that the situation remains fragile and volatile, while noting an improved outlook for performance fees.
Share Buyback Programme
Man Group announced a share buyback programme of up to US$50 million, scheduled to run from 12 May 2026 through 11 May 2027. Barclays Bank has been appointed to conduct the buyback. The programme may repurchase a maximum of 115,151,767 shares, the number authorized by shareholders at the company’s 2026 annual general meeting.
Assets Under Management and Net Flows
In the first quarter, Man Group reported assets under management (AUM) of US$228.7 billion, falling short of analyst expectations of US$231.3 billion. The quarter saw net outflows of US$1.6 billion, contrasting with consensus forecasts that had anticipated net inflows of US$1.8 billion.