Persistent withdrawals brought Man Group’s revenues for fiscal year ended March 31 down by 22.8% to $2.49 billion and net profits down 85% to $503 million from $3.47 billion a year earlier.

Man Group’s assets under management stood at $44 billion at the end of May, down 41% from $74.6 billion in March 2008. The hedge fund said it is bracing for an additional $2 billion in redemptions by July but inflows to return in the second half of the year.

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