Man Group Assets Grow As Hedge Fund Returns Improve

by Phillip Morton, Investors Offshore.com

17 January 2005

London-based hedge fund firm Man Group, the world's largest publicly traded hedge fund manager, revealed growth in assets under management by $3.6 billion in the final quarter of 2004 to $42 billion as hedge fund returns improved.

According to the firm, investor money raised in the three months to 31 December 2004 was $2.2 billion as 10 new private investor fund products were launched during the quarter.

Sales from Man's global launch of Man RMF Multi-Style Series 2 accounted for an additional $0.2 billion and joint venture sales (including the Japanese product and OM-IP 15seven) made up a further $0.8 billion.

Other private investor sales, mainly relating to open-ended funds, accounted for $0.3 billion while institutional sales in the quarter were $0.9 billion.

The total of private investor assets under management by Man has risen to $22.5 billion from $22.4 billion as at September 30, 2004. Institutional funds under management account for $17.5 billion, up from $16 billion at the end of the third quarter.

"We had seen 50% per annum growth for a few years but we have told markets this (growth rate) would shrink. At the end of a year when we had mixed performance and maturity of a large fund, we are very pleased," remarked Man chief executive Stanley Fink, according to The Scotsman.

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