Man Group said client outflows slowed and assets rose in 2012, raising hopes the the world's biggest listed hedge fund manager can finally begin to win back clients after seeing heavy withdrawals in the second half of last year.

The firm, whose shares have more than halved over the past year on investor concerns about outflows and the performance of its funds, said assets under management rose to an estimated $59.5bn from $58.4bn at end-December 2011.