Wednesday, 1 October 2014
Last updated 1 hour ago
Jan 14 2009 | 1:56pm ET
The Man Group said today that its assets under management dropped sharply in its fiscal third quarter as the firm struggled, like many others, with poor performance and huge investor redemptions.
The London-based firm said it managed US$53.3 billion on Dec. 31, a 21.2% drop from the US$67.6 billion it managed at the end of its fiscal second quarter quarter. The hedge fund group blamed market volatility, low levels of liquidity, limited leverage and year-end redemptions for the losses.
More than half of the decline, US$9.7 billion, was blamed on the firm’s effort to cut exposure across its MGS product range. Year-end net redemptions totaled $3.2 billion.
On the bright side, Man’s flagship AHL strategy soared during the quarter, rising 22%.
"The outlook for institutional sales remains very subdued in the short term and continued institutional redemptions mean that we will see institutional net outflows until markets stabilise and confidence returns," said Chief Executive Peter Clarke.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...