Thu, Oct 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Man Group’s funds’ underperformance impacts group’s results

Monday, March 19, 2012

Beverly Chandler, Opalesque London: With its change of financial year end to end December 2011, Man Group published a nine month annual report today, covering the period from 1 April to 31st December 2011.

In what it described as 'a tough trading period for Man’, the chairman, Jon Aisbitt, chief executive Peter Clarke and finance director Kevin Hayes reported: "Despite a challenging market backdrop, our sustainable business model, growth-oriented strategy, and robust risk management position us to deliver strong long-term investment performance through tailored investor solutions to a growing global investor base. Our overriding goal is to be the leading alternative investment manager globally".

Figures for the period showed funds under management at $58.4bn, down 15% from $69.1bn at March 2011 in what the firm called 'extremely challenging market conditions’. The decrease comprises negative investment performance of $4.0bn, net outflows of $1.5bn, negative FX movement and acquired FUM of $1.4bn and de-gearing and other movements of $3.8bn.

Sales for the period were $16.7bn, split between $13.9bn alternatives and $2.8bn long only. Man reported net outflows of $1.5bn in total with net inflows of $0.3bn into alternatives and net outflows of $1.8bn out of long only. Prior year sales were $11.7bn.

In terms of revenue, Man reported $1,254m in gr......................

To view our full article Click here

Banner

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  4. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  5. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba