Man AHL Lost US$700 Million Last Week

Jan 28 2010 | 2:47pm ET

Man Group’s flagship AHL strategy suffered its worst-ever year last year, and, so far, the new year is not proving any kinder.

AHL lost 3.57% last week, or more than US$700 million, the Financial Times reports. The $21.7 billion managed futures strategy booked a similarly large one-week loss less than two months ago, when it plummeted 4.3% in the first week of December.

That helped finish off a truly terrible year for AHL, which lost 16.9% in 2009, while the average hedge fund soared nearly 20%. It was the first-ever losing year for AHL, which managed to return 33.8% in 2008, when most hedge funds dropped by double-digits.

AHL, it should be noted, is used to such swings. The highly-volatile strategy averages one 4% weekly loss per year.


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