Monday, 20 October 2014
Last updated 3 hours ago
Jul 8 2010 | 1:31pm ET
Investors pulled US$1 billion from the Man Group in the second quarter, despite above-average returns for its flagship strategy.
The net withdrawals pushed the firm’s assets under management down 2.2% to US$38.5 billion between April and June. It is the seventh consecutive quarter in which Man, which is buying GLG Partners, has suffered an net outflow.
“Given the continued market uncertainty, sales in the quarter have, as anticipated, remained subdued,” CEO Peter Clarke said in a statement.
The declines came despite relatively strong performance by Man’s AHL managed-futures strategy, which rose 2.3% though May.
Unable to staunch its own asset losses, Man is looking to GLG to diversify its asset base. It is also looking to China, where it hopes to begin selling its products within the next few years.
Clarke said at Man’s annual general meeting that Man is hoping to attract some state-run Chinese institutions, and eventually wants to sell its hedge funds directly to private investors on the mainland.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...