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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note