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Money managers under the microscope

Results revive Man

Some good news for Man Group this morning as its shares soared 6.5 percent on this morning’s full-year results.

Asset levels were actually down since the end of March (from $39.4 bln to $39 bln), but such have been the outflows from Man’s funds that these figures imply a stabilisation of assets and, according to Credit Suisse, zero net outflows.

Man still isn’t fully benefiting from the renewed investor appetite for absolute return funds that much of the wider hedge fund industry is seeing, but investors are taking heart from today’s update.

If institutional investors follow the lead of private investors, who have been net investors into Man’s funds over the past year, then flows could quickly turn positive.

Long-haired Lagrange brings star culture to Man

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In our investor profile of GLG’s Pierre Lagrange, we highlight two very different sides of London’s hedge fund industry and a potential culture clash in Man Group’s surprise takeover of GLG this month. RTXRM45

REUTERS/Stefan Wermuth

In many ways, Lagrange symbolises the informal, star manager culture that GLG has based its growth on (although also suffered from after Greg Coffey’s departure and Philippe Jabre’s FSA fine).

Man Group still waiting for the wave

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Shares in Man Group, the world’s biggest listed hedge fund firm, are up strongly today after it finally reported a rise in assets.

rtxabt1Like many hedge fund firms, Man has suffered during the industry’s downturn, with assets falling from $70.3 bln a year ago to $43.8 bln currently.

Payday at Man Group

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Reports of potential shareholder unrest at Man Group.

rtxabt1A Times article reports on fund manager anger over an “arms race” in executive pay and juxtaposes this against Man CEO Peter Clarke’s $14.4 mln pay.

It says several institutional investors it contacted “said that they had not yet decided whether to protest over remuneration at Man”.

A hectic schedule

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The hedge fund circuit can be exhausting.

rtxfqrlLast Thursday saw the plush fundraising dinner of ARK, the charity headed by Arpad Busson, fiance of Uma Thurman, at London’s Waterloo International.

The next date in the European hedge fund industry’s diary is next week’s annual GAIM conference, held in Monaco (where else?).

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