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: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...