Man Group saw diverging trends among its clients during its first quarter with private investors tempted back into the market while institutional investors continued to pull billions of dollars out of the UK’s largest listed hedge fund.

Group funds under management in the three months to June 30 fell from $46.8bn (£28.6bn) to $43.3bn (£26.5bn) as total redemptions of $5.1bn were partly offset by sales of $3.7bn.