The Man Group has raised US$1.5 billion for an open-ended fund in Japan: Nomura Global Trend.
Peter Clarke, Man, chief executive, said,“The outstanding success of this open-ended fund launch is due to its appealing and innovative structure, and the commitment and expertise of the teams at both Man and Nomura.”
Nomura, the Japanese bank, marketed the fund primarily to its high-net-worth clients, reports HedgeFund.net, which says the fund launch was delayed “for a few weeks” by the recent turmoil in Japan.
The fund has three share classes: yen-denominated; Asian currencies (including the Chinese renminbi); and resource currencies, like Australia and Brazil.
The Man Group, with $69 billion in assets under management, is the world’s largest hedge fund firm, thanks to its 2010 acquisition of GLG Partners.