Friday, 24 October 2014
Last updated 18 hours ago
Jan 20 2011 | 2:27pm 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.
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…
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 ...