Man Outflows Continue As Investors Pull US$2.7 Billion

Feb 28 2013 | 11:14am ET

New Man Group CEO Emmanuel Roman certainly took over a mess today.

The former GLG Partners executive formally took the reins at the world's largest publicly-listed hedge fund manager today—just in time for it to announce another US$2.7 billion in net outflows and that an analyst had been arrested on suspicion of insider-trading.

Man said it suffered its sixth-straight quarterly outflow in the fourth quarter, leaving its assets under management at US$57 billion. Man managed US$69 billion in the wake of its 2010 merger with GLG.

Man lost US$745 million last year.

"2012 was another tough year for Man," Roman said. "Trading conditions were highly challenging as markets continued to be dominated by political uncertainties in Europe and the U.S. and macroeconomic risks. Investor appetite remained muted."

And would likely remain so: Roman said that "business conditions remain very tough" and that "sales are likely to remain muted in the first half, and we are yet to see a slowdown in the rate of redemptions."


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...