Tuesday, 27 January 2015
Last updated 11 hours 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%.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…