Assets under management at Man Group, the world's largest quoted hedge funds company, have risen by just 1% to $43.5bn (€36bn) in the three months to the end of June, the group told shareholders today.

The rate of growth is far slower than the target set by Stanley Fink, the firm's chief executive, who has said he wants the company to grow its assets by 20% a year. The share price fell 2% to 1538p at 9.43 GMT.