Man Group Says Assets Up To $71B Thanks To New Funds

May 26 2011 | 8:36am ET

Hedge fund giant Man Group says its assets have climbed 3% since March to $71 billion thanks in part to the Nomura Global Trend fund (an open-ended version of the company’s flagship AHL fund) which has attracted $2 billion since its April launch.

As reported by Reuters, Man CEO Peter Clarke told a conference call with journalists:"The phenomenal success of the Japan AHL launch demonstrates the concerns people had around the ... earthquake and ... tsunami around our asset-raising were completely unfounded."

The strong Japan fundraising comes despite AHL’s poor performance this month—the $23 billion “blackbox” fund, named for founders Michael Adam, David Harding and Martin Lueck, is down 6% since May 2, thanks to a commodity sell-off.

The firm raised an additional $400 million from the launch of its first guaranteed fund combining AHL and GLG funds, the IP220 GLG product.  Man acquired rival hedge fund shop GLG Partners in 2010.

Man reported a $599 million pre-tax profit for the fiscal year ending in March 2011, beating its March forecast of $560 million. Net profit was $211 million (down from $445 million netted in fiscal 2010).

 


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of