Thursday, 18 December 2014
Last updated 5 hours ago
Jan 19 2010 | 12:17pm ET
It was a bad year for the Man Group’s flagship managed futures strategy—its worst ever, in fact—and that made 2009 a bad year for the Man Group.
The world’s largest publicly-traded hedge fund firm said its AHL program’s struggles cost it some 3.6% of its total assets in the third quarter. AHL, which accounts for about half of Man’s assets, shed 16.9% last year, its first-ever annual loss. December is proving particularly hard on the strategy, which fell 6.1% last month, its worst monthly performance since the previous December.
All told, Man’s assets dropped US$1.6 billion to US$42.4 billion in the third quarter, the firm said. Most of that decline was the result of redeeming institutional investors, who pulled US$1 billion. Individual investors yanked just US$100 million.
But institutional investors are also helping the firm rebuild its asset base. Man said it has recently won a US$1 billion managed-accounts mandate from an unidentified pension fund, and is negotiating with several other pension funds about mandates ranging from US$300 million to US$500 million. Man CEO Peter Clarke in March said he hoped to double the firm’s managed accounts assets from US$4 billion; Man now manages US$7 billion in such accounts.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.