Saturday, 30 July 2016
Last updated 12 hours ago
Oct 12 2011 | 1:18pm ET
The Man Group's flagship strategy was caught off-guard by last week's stock-market rally, wiping out its year-to-date gains.
Man AHL, which has $24.9 billion in assets, fell 5.5% last week, leaving it down 3.2% on the year. The quantitative strategy was burned both by rising stocks and a bond sell-off; it had large long positions in fixed-income and was shorting stock and energy markets.
With last week's decline, AHL is now between 8% and 9% from its high-water mark.