New York (HedgeCo.net) – Hedge fund giant, ManGroup, announced that their assets are up $71 billion vs $69.1 billion at the end of March.
Man’s Chief Executive Peter Clarke said it had been a “significant year” for the group now that it had achieved its aim of building a comprehensive set of investment strategies through the acquisition of GLG and the remaining stake in Ore Hill.
Man attracted $2 billion for their new open-ended version of its flagship AHL fund in Japan. Clarke said in an interview with Reuters: “The phenomenal success of the Japan AHL launch demonstrates the concerns people had around the … earthquake and … tsunami around our asset-raising were completely unfounded.”
Man showed a net management fee income of $430 million (2010: $463 million) and net performance fee income of $169 million (2010: $97 million).
Alex Akesson
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