Wednesday, 25 November 2015
Last updated 1 hour ago
Jun 2 2006 | 8:08pm ET
The world's largest publicly-traded hedge fund, Man Group, beat market forecasts and reported stellar profits due to revenue from performance fees and growth in funds under management.
Man Group said yesterday that net profits for the year ended March 31 rose 14.6% to $1.01 billion, a bump up from $885 million in the previous year. Pre-tax profits rose 51% to $1.31 billion from $863 million. The consensus forecast among Wall Street analysts was that Man Group would see net profits rise a little less than 10%.
The company also announced that performance fees have remained strong over the last few months, with assets under management rising 16% to $49.9 billion this year through March 31.
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…