Man Execs. Buy Up Shares After Asset Drop

Sep 29 2011 | 11:59am ET

The Man Group's top executives used a swoon in the hedge fund manager's share price to boost their own holdings.

Man shares plummeted more than 20% yesterday after the firm announced that investors had yanked US$2.6 billion in assets in the third quarter and that its assets under management had fallen US$6 billion to US$65 billion. Man's leaders were certainly unhappy with that news, but they also smelled an opportunity—either to pick up Man shares on the cheap or to inject a little confidence into the firm.

The firm's three top executives, CEO Peter Clarke, finance director Kevin Hayes and chief operating officer Emmanuel Roman, each dropped about US$138,000 to buy up 150,000 shares, Reuters reports. Ruud Hendricks, a non-executive director, bought 100,000 shares himself for US$277,000.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...