Man To Launch Tops-Like ETF

Jan 31 2011 | 1:39am ET

The Man Group today will launch its first hedge fund exchange-traded fund, designed to profit from brokers' best ideas.

The Man GLG Europe Plus Source ETF will use an algorithmic system to trade on brokers' buy recommendations. Hundreds of these will be aggregated and rated; the brokers with the winning tips will win the trades based on those tips, the Financial Times reports. The system is similar to that employed by Marshall Wace Asset Management for its Tops program.

The Man fund will not trade on sell recommendations, however; Tops does.

The new strategy, one of the first joint products offered by Man and GLG Partners, which Man acquired last year, is the brainchild of Man's quantitative research group, MSS. That unit this month also launched a tail risk fund, Man Tail Protect, one of several so-called "black swan" funds—which seek to profit from extreme, unlikely moves in the market—to debut recently.

The ETF's strategy is already being used in a managed account for a single large client, according to the FT. The ETF is expected to list with about US$260 million, before "intensive" marketing begins next month.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR