Wed, Jul 8, 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 systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner