Monday, 30 November 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%.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…