The British-based group said it had benefited from a bigger-than-expected rise in net performance fee income, as well as a strong performance at its AHL futures business.

It said analysts' average forecast for pretax profit from continuing operations was £1.82 billion (S$5.04 billion).

Funds under management were up at around $75 billion, from $71.7 billion at Dec. 31, while redemptions totalled $10.6 billion, including $2.6 billion in the final quarter.

'This is a very strong set of results, achieved through a period of significant market turmoil,' Chief Executive Peter Clarke said in a trading update.

'Our financial strength, strategic focus and strong performance mean that Man is extremely well placed to see continued strong growth.'

Man shares have outperformed the DJ Stoxx financial services index by about 22 per cent over the past 12 months. They closed at 545.5 pence on Wednesday, valuing the business at about 9.2 billion pounds. -- REUTERS