Man Sees First Inflow In Two Years

Oct 17 2013 | 3:06pm ET

For the first time in more than two years, the Man Group took in more money than it paid out in redemptions, but the news was far from all good at the world's largest publicly traded hedge funds.

The third-quarter net inflows went primarily to Man's GLG Partners unit. All told, the firm took in US$4.1 billion against US$3.4 billion in outflows. Assets under management edged up US$500 million to US$52.5 billion.

GLG's fund took in US$300 million, which Man's flagship AHL program lost a further 10% of its assets during the quarter.

"Inflows were linked primarily to stronger performance in the first half of the year and were characterized by sizeable asset flows from certain customers, albeit into relatively low-margin products," CEO Emmanuel Roman, himself a former GLG executive, said. "We remain cautious in our outlook for asset flows going forward in light of continued uncertainty in the macro-economic environment."

Man also said it had taken another $90 million charge, one-third of which will go to cutting staff over the next three months.


In Depth

Q&A: Jeff Eaton Talks Capital Raising, CalPERS And The Secondaries Market

Oct 14 2014 | 10:16am ET

Global placement agent Eaton Partners has raised close to $60 billion for some of...

Lifestyle

MacDonald-Korth Offers Insights Into Paintings Bought, Sold By Hedgies

Oct 7 2014 | 9:00am ET

Definitive and complete ratings require an in-person examination of an artwork,...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.