Crystalline Mn5Ge3 nanomagnets are formed inside a Mn-diluted Ge matrix using Mn ion implantation. A temperature-dependent memory effect and slow magnetic relaxation are observed below the superparamagnetic blocking temperature of Mn5Ge3. Our findings corroborate that the observed spin-glass-like features are caused by the size distribution of Mn5Ge3 nanomagnets, rather than by the inter-particle interaction through the Mn-diluted Ge matrix.