LONDON (Reuters) - Man Group (>> Man Group PLC) said clients withdrew money for an eighth consecutive quarter in the three months to June, as the hedge fund firm struggles with a renewed bout of poor performance from its flagship fund.

The former FTSE 100 firm said client outflows were $1.3 billion during the second quarter, although this was down from the $3.7 billion seen in the first quarter and better than RBC Capital Markets' forecast of $2.1 billion.

Funds under management dropped 9 percent to $52 billion, while the group said it had made a first half adjusted profit before tax of $134 million.

Manny Roman, who took over as CEO earlier this year, has made a raft of management changes as he tries to revive Man's fortunes and win back clients.

But the firm's shares have tumbled since late May after flagship computer fund AHL was hit by a sell-off in bond and equity markets, as investors feared the U.S. Federal Reserve would soon cut back on its bond-buying policies.

"Trading conditions remain tough and we do not see any improvement in the near-term outlook," said Roman in the statement.

(Reporting by Laurence Fletcher; Editing by Tommy Wilkes)

Stocks treated in this article : BlueCrest BlueTrend Ltd, Man Group PLC