GLG’s total net assets under management as of March 31, 2010 were approximately $23.7 billion (net of assets invested from other GLG managed funds), up 6.7% from December 31, 2009 and up 68.7% from March 31, 2009.

The increase in net AUM during the three months ended March 31, 2010 was due to net inflows of $954 million, mostly reflecting interest in GLG’s alternative strategies, including UCITS III and 130/30 products, and performance gains across the GLG franchise of $1.3 billion. The effect of currency translation decreased net AUM by $753 million in the quarter ended March 31, 2010.

GLG’s total gross AUM (including assets invested from other GLG managed funds) was $25.8 billion as of March 31, 2010, up 6.1% from December 31, 2009 and up 67.6% from March 31, 2009.

First quarter 2010 dollar-weighted average returns of 5.3% for the alternative strategies, 6.2% for the 130/30 strategies and 6.1% for the long only strategies; April 2010 dollarweighted average returns1 of 1.5% for the alternative strategies, 1.6% for the 130/30 strategies and (0.1%) for the long only strategies.

"I am pleased to report another quarter of strong investment returns for our clients,” said Noam Gottesman, Chairman and Co-CEO of GLG. “This strong investment performance combined with a broadening interest in GLG’s fund and managed account products are leading to accelerated net inflows.”

“We are well positioned as net inflows begin to return to global and alternative asset managers, in particular into new areas such as our UCITS III products which have seen strong interest,” commented Emmanuel Roman, Co-CEO. “Our platform is robust, global and transparent with a wide range of performance-oriented investment products. Moreover, given our existing base of professionals and the investments we have continued to make in infrastructure and risk management systems, we expect to see significant operating leverage as our asset base grows.”