Man Group Eyes US Hedge Fund Market

by Philip Morton, Investors Offshore.com

27 March 2002

UK-based international hedge fund manager, Man Group, revealed this week that it is in discussion with a number of US banks and mutual fund providers over a distribution deal for private clients in the States.

The Group's Chief Executive, Stanley Fink, confirmed reports, stating that: 'We are re-engineering our products to make them acceptable in the US from a legal and regulatory point of view.'

Although the hedge fund manager is currently restricted from selling to anyone other than institutional and 'qualified' investors in its home country, it sells to high net worth retail investors overseas, most notably in continental Europe and the Middle and Far East.

Although Man Group refused to comment on when, and with whom, a deal could be signed, analysts have predicted that a link-up with one of the larger regional banks should maintain the sales momentum demonstrated by the Group over the past year.

Man Group has benefitted fairly substantially from the surge in demand for alternative investment products over the last two years. It announced on Monday that its full year profits are likely to beat forecasts, which represents quite an achievement given recent economic uncertainty.

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