Man Shuts Vision, Other Guaranteed Funds

Aug 28 2013 | 12:09pm ET

The Man Group is pulling back from its guaranteed products range, another of the troubled hedge fund’s offerings that is underperforming.

The firm said it would close its US$40 million Man Vision fund, which is linked to Man’s flagship AHL strategy. Man Vision was designed to produce annual returns in excess of 10%, but with AHL struggling, Vision struggled, too.

Man is also closing similar funds linked to AHL, Bloomberg News reports.

Vision’s assets have already fallen by three-quarters from US$160 million a year ago. Far from returning 10% a year, the fund is actually down 12% since its inception in 2008 and down 5.6% this year. All told, Man’s guaranteed products have seen their assets fall 64% to US$4.7 billion.

Vision “no longer has the potential to achieve its performance objectives,” Man said in an Aug. 12 letter to clients.


In Depth

Q&A: Omni Macro Fund Bullish On India, Watching China

Mar 4 2015 | 3:35pm ET

Omni Macro Fund was formed in 2007 by Stephen Rosen, previously a prop trader at...

Lifestyle

Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 2:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the...

Guest Contributor

Risk Management: The Due Diligence Challenge And Branding Opportunity

Mar 2 2015 | 8:41am ET

The hedge fund firms that make it easier for prospective investors to gain comfort...

 

Editor's Note