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Top related persons:
Antoine Forterre - 1 Man - 1 Luke Ellis - 1 Man's - 1 Robyn Grew - 1 Ellis - 1 Group's Forterre - 1 Jefferies - 1
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Man - 1 Credit Suisse - 1 AHL Evolution Fund - 1 GLG - 1 Varagon Capital Partners - 1 Thomson - 1

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3 mentions found


☆ Man Group shares tumble as fund performance disappoints
  + stars: | 2023-08-01 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +3 min
LONDON, Aug 1 (Reuters) - British hedge fund manager Man Group (EMG.L) posted forecast-beating first-half pretax profit and record assets under management on Tuesday, but a disappointing performance across several of its funds roiled investors, sending shares lower. Man reported negative investment performance at its AHL Evolution Fund and Numeric Global Core Relative Return fund for the first half of 2023, as well as its actively managed GLG Global Emerging Markets Debt Total Return Fund. Performance fees in both Man's AHL Evolution and funds marked "other alternatives" both fell by over 80% from a year earlier. Despite the first quarter volatility, Man reported net inflows of $2.6 billion for the period, coming in around 2.5% higher than industry peers. Man recommended an interim dividend of 5.6 cents a share, in line with guidance offered a year ago.
Persons: Antoine Forterre, Man, Luke Ellis, Man's, Robyn Grew, Ellis, Group's Forterre, Jefferies, Nell Mackenzie, Sinead Cruise, Sharon Singleton Organizations: Man, Credit Suisse, Reuters, AHL Evolution Fund, GLG, Varagon Capital Partners, Thomson Locations: U.S
☆ Man Group shares surge on bumper performance fees
  + stars: | 2023-02-28 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +2 min
A September rout in British gilt markets drove many UK pension funds to scour for cash, after investments into liability-driven investment (LDI) funds resulted in billions of pounds worth of collateral calls. Many pension funds reached for profitable investments they had elsewhere, like hedge funds as well as investments into collateralised loan obligations. Some of the strategies from which investors withdrew money were posting double digit returns at the time, he added. He declined to say how much money he'd seen back from pension schemes this quarter. Separately, Man said its chairman John Cryan had decided to retire from the board towards the end of 2023.
☆ Man Group beats AUM expectations, posts higher performance fees
  + stars: | 2023-02-28 | by ( Nell Mackenzie | ) www.reuters.com   time to read: +2 min
The company posted full year core pretax profit of $779 million, up 18% on the previous year. It recorded a core net management fee growth of 6% collecting $779 million of core performance fees. "An increase in volatility and higher dispersion meant higher alpha generation. The firm recorded net inflows of $3.1 billion for 2022, down 77% against a year earlier, although this was 5.3% higher than the average posted by the UK hedge fund industry. Many pension funds reached for profitable investments they had elsewhere, like hedge funds as well as investments into collateralised loan obligations.
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