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

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note