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

Star Fund Managers Battered By Rocky Ride In Yields, Currencies

May 28 2015 | 6:05am ET

Some of the biggest names in the investment world have been whipsawed by the recent...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

The Road To Tax Alpha

May 28 2015 | 5:36am ET

Tax-related alerts are increasingly helping investment managers harvest tax alpha...

 

Sponsored Content

Editor's Note