Wednesday, 23 July 2014
Last updated 1 hour 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%.
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…