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By Benedicte Gravrand, Opalesque London:

This is the third article of a four-part series. See Part One here and Part Two here.

The competition between managed accounts and hedge funds accelerated in 2008. But fund of hedge funds managers are embracing the new managed account model – and in parallel, single-hedge fund managers, in an adjustment mode, are opening their doors to managed account enquiries, shedding their reluctance to hand over some of the fund management control. Man Group, a veteran in the managed accounts business, is riding this new wave and wants to substantially increase its number of accounts.

Old hand The managed account technology for Man is definitely not new; Man has been managing such structures for 10 years. Historically, the firm has been investing into managed accounts for these reasons:

1. Getting full position transparency and control over assets by seeding new managers (MGS model); 2. Getting better liquidity and transparency terms for the management of institutional clients’ portfolios (RMF model).

New moves Over the years, Man has developed the infrastructure that runs managed accounts, with dedicated teams for the set-up of accounts, the selection and monitoring of service providers and the oversight ......................

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