Tuesday, 26 May 2015
Last updated 4 min ago
Oct 26 2012 | 1:57pm ET
Odey Asset Management is betting that the Man Group may be down, but it's not out.
Crispin Odey's eponymous hedge fund, which once made a similar—and successful—bet on the recover of Barclays shares, announced Thursday it had upped its stake in Man from 1.25% to 5.15%, an investment worth about $113 million, reports Reuters.
Odey holds its stake through a mixture of shares and contracts.
The Man Group has had a couple of bad years, losing clients as its flagship AHL blackbox fund struggled, losing 6.4% in 2011 and 3.9% so far this year. Since the beginning of 2012, Man shares have lost almost 75%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…