Man Assets Rise In Second Quarter On Sales, Performance

Jul 11 2008 | 10:50am ET

Despite a difficult first half for hedge funds, the Man Group continues to rake in new assets. The London hedge fund giant said sales were US$5 billion in its first fiscal quarter, against redemptions of just US$2.5 billion. The US$2.5 billion net inflow, alongside US$1.7 billion in performance gains and US$700 million in positive currency moves pushed the firm’s assets under management up 6.6% to US$79.5 billion.

A substantial chunk—US$2.2 billion—of Man’s sales was in its increasingly popular guaranteed products.

“This success in asset-raising reflects the group’s broad geographic presence and the continued attraction of conservatively-structured alternative investment products,” Jon Aisbitt, chairman of Man, said.

While most hedge funds are in the red, Man’s for the most part posted positive performance. Its flagship AHL strategy returned 3.8% on the quarter, while its Glenwood and RMF funds of funds rose about 2.4% and 2.5%, respectively.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.