Fri, May 29, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Man's funds under management rise 5%, YTD European distressed strategy +36.52%, market neutral +28.38%, emerging markets +10.06%

Thursday, November 04, 2010
Opalesque Industry Update - Man Group (“Man”) today announced funds under management (FUM) for the six month period to 30 September 2010 of $40.5 billion. This was up 5% from 30 June 2010 (FUM: $38.5 billion) and ahead of the 28 September pre-close estimate of $39.5 billion due to strong investment performance and favourable FX movements at the end of the reporting period.

AHL, Man’s quantitative managed futures manager, was up 9.0% in the calendar year to 30 September and AHL’s UCITS funds Diversity and Trend also delivered returns of 6.2% and 8.1% respectively in the same period. As at 30 September, AHL was 6.0% from peak on a weighted average basis.

GLG, which is now a wholly owned subsidiary of Man following completion of the acquisition on 14 October 2010, continues to outperform across a wide range of styles, with the top performing styles in the calendar year to 30 September 2010 being European distressed (+36.52%); global macro (+28.55%); market neutral (+28.38%) and emerging markets (+10.06%).

Man Multi-Manager also performed well in the calendar year to the 30 September 2010, with flagship multi-style portfolios such as Man Dynamic Selection returning 3.7%, compared to the HFRI Fund of Funds Composite Index which was up 2.1%. This outperformance was driven by active investment management which, together with a strong appreciation in guarantee instruments, boosted the performance of Man’s structured product range, with guaranteed product flagship Man IP220 up 18.5% in the calendar year to end September.

Peter Clarke, Chief Executive, said: “In the lead up to the acquisition of GLG, both Man and GLG delivered excellent investment performance – the key catalyst to flows. AHL returned 9% in the calendar year to end September with performance benefitting from strongly trending bond and currency markets, and GLG’s range of alternative and long only strategies continued to perform strongly. The quarter to 30 September also saw our first positive institutional flows for over two years, confirming investor demand for the liquidity, transparency and risk-adjusted returns offered by Man Multi-Manager.

“We have made a fast start to GLG integration and expect to deliver revenue synergies from marketing GLG strategies on a wider global scale, and from new, blended products, the first of which will be launched in the first quarter of 2011. With a wide range of investment styles now being marketed worldwide and unrelenting focus on investment performance, Man is well positioned for asset growth.”

Funds under management for the combined Man and GLG business at the end of October are estimated at $67 billion.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Opalesque Exclusive: New TMT hedge fund adopts the long-term approach[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Adam Parker founded Center Lake Capital LLC in New York in November 2014. Before that, he was portfolio manager at Point State Capital (the successor fund to Dr

  2. Regulatory - Hedge funds face tax as Iceland poised to end capital controls, Comment: Why alternatives need more transparency, not enforcement[more]

    Hedge funds face tax as Iceland poised to end capital controls From Bloomberg.com: Hedge funds and other investors who bought claims against Iceland’s failed banks face a tax that targets the lenders’ estates as the government prepares to unveil its plan for exiting capital controls in t

  3. Investing - Nelson Peltz’s Trian Fund Management reduces position in Legg Mason, Biotech investors up big amid bubble talk, Hedge funds increase exposure in healthcare[more]

    Nelson Peltz’s Trian Fund Management reduces position in Legg Mason From Octafinance.com: Trian Fund Management has filled a SC 13D/A form regarding Legg Mason, Inc. Per Nelson Peltz’s Trian Fund Management’s filing, the filler reported decreased stake in the company by -11.05% to 11,03

  4. Opalesque Exclusive: BMO launches multi-strat '40 act fund[more]

    Bailey McCann, Opalesque New York: As we reach new market highs, investors are looking for a way to diversify and protect their portfolios from a potential market correction. Liquid alternatives are rapidly gaining ground as a critical tool for investors to use to mitigate downside risk. The BMO

  5. All hedge fund strategies rebounded last week as market conditions normalize[more]

    Komfie Manalo, Opalesque Asia: After a difficult start this month, all hedge fund strategies ended last week in positive territory, as the Lyxor Hedge Fund Index gained 0.9% (-0.2% MTD, 3.3% YTD). According to Lyxor AM’s latest Weekly Briefing, in t

 

banner