Sun, Apr 20, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Hedge fund group Man now manages around 3% more than end-2010 ($71bn), continues expansion

Thursday, May 26, 2011
Opalesque Industry Update - Man Group’s financial year ending 31st March 2011 presented statutory profit before tax from continuing operations of $324m - compared $541m a year ago.

Funds under management (FuM) stood at $69.1bn (compared to $68.6bn at the end of 2010 and $39.4bn a year ago) and performance fee income was much higher ($169m compared to $97bn a year ago), but restructuring and acquisition costs (remember GLG in October 2010) impacted the total profit significantly.

Adjusted pre-tax profit from continuing operations was $599m (compared to $560m a year ago).

Currently, Man’s FuM are estimated at $71bn. This is reflecting positive flows despite recent demanding performance environment, says the company statement, as strong net inflows since year-end have included $2bn from Nomura Global Trend and $400m from Man IP220 GLG, the first guaranteed product to include GLG strategies. The Nomura Global Trend fund, the first onshore Japanese fund launched by Man's AHL unit, began trading at the end of April 2011 (Source).

Peter Clarke, Man’s CEO said: “Our recent AHL open-ended launch in Japan, which has now raised $2bn, is a clear example of this momentum and is being followed by a Japan GLG currency launch.”

The listed alternative investment management firm, head-quartered in Switzerland, is continuing to build various strategies, and has now $10bn in UCITS formats, as well as $1.3bn in its Systematic Strategies. It is also moving some of its investment management to Hong Kong, for the launch of the AHL renminbi share class.

Man’s Hong Kong office has launched a series of onshore funds for the local market since 1998, among them, the Man AHL Diversified Futures (Source) and Man AHL Trend (Source).

Institutional Investor's tenth annual Hedge Fund 100 ranking (for 2011) recently listed Man Group as the third biggest hedge fund group in the world, after Bridgewater and JP Morgan A.M. (Source).
B. Gravrand

See our January related article:
Opalesque Exclusive: Man Group FuM now at $68.4bn from $63bn in October during GLG acquisition Source

***

Man’s press release: Source

Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  3. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  4. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo