Man Hit With Outflows As Big Investor Bolts

Jan 20 2011 | 3:27pm ET

The world's largest publicly-traded hedge fund continues to lose investors, despite a major acquisition last year.

The Man Group said it suffered investor outflows for the ninth consecutive quarter in the three months ended Dec. 31. Much of the decline came from a single US$1 billion redemption, although long-only funds at GLG Partners, which Man bought last year, also suffered outflows.

On the bright side, Man's hedge funds took in US$100 million in the fourth quarter and investment gains pushed assets under management up US$1.6 billion to US$68.6 billion following the October acquisition of GLG.

The US$1 billion redemption was from a long-only fund; the investor wanted to get out of European stocks, Man said.

Man did offer some positive signs for the future, saying new products and a new managed account mandate would add nearly US$2 billion to its assets under management in the first quarter. What's more, the firm's flagship AHL strategies are nearing their high-water mark, which would allow Man to begin charging performance fees on its largest family of hedge funds once again.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of