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The Man Group's AHL fund, which makes trades using computer models, fared well through the summer and had a net inflow of assets this quarter.
An especially ominous figure from the quarterly report was the net inflow of assets to Credit Suisse's private banking and asset management businesses, an area where it has historically been strong.
The average performance of the two families' funds will be the same, but if the pattern found in past research persists, the fund family that will have the greatest net inflow of assets — and, hence, the one whose total management fees will grow fastest — will be the one with the star performer and the dud.
The company, which combines Switzerland's second-largest bank with the Credit Suisse First Boston investment bank, said profit fell 23percentt from the quarter last year, despite a strong inflow of assets and better-than-expected results in its insurance business.
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Price discovery reflects the variation in asset prices reacting to the continual inflow of asset-related intrinsic information.
The bank also reported a significant inflow of customers' assets in its private banking unit, something that surprised analysts.
Standard Life Investments, which manages the company's savings assets while 47% of its business is in managing assets from elsewhere, saw an inflow of third party assets of £600m, down sharply on last year's first-half figure of £2.9bn.
Consumer discretionary ETFs reversed nearly all of the previous weeks big inflow, redeeming 9.1% of assets.
LQDT's government liquidation business will experience tailwinds in the short-run from the announced DoD budget cuts, the obsolescence of technologies supporting manned warfare, and inflows of surplus assets from closing DoD bases in the Middle East.
Hybrid funds had a net inflow of $10 billion, with assets stable at $346 billion.
The weak inflow of new customer assets in the quarter disturbed him, Mr. Grübel said.
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