Tuesday, 29 July 2014
Last updated 7 hours ago
May 31 2007 | 11:54am ET
In a trend that’s either disturbing or encouraging (or both), another big hedge fund says assets and profits are up, even though performance is down.
The Man Group—the world’s largest publicly-listed hedge fund—said that its flagship $18.5 billion AHL Diversified Program lost 4.8% in the fiscal year ending on March 31, driving performance fee income down 20%. But overall income soared 27%, driven by a 24% jump in assets under management, to $61.7 billion, and a consequent 34% rise in management fee income.
Total sales rose 75%, according to the firm, and it said it continues to attract massive amounts of new money, with some $3.5 billion pouring in over the past two months.
As for performance, Man made no promises. “It’s been a difficult year for trend followers, and therefore for AHL,” firm Chairman Harvey McGrath said in a conference call. Man said the group’s performance was badly hit by the market correction earlier this year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…