BusinessWeek – Man Group Plc (EMG), the world’s biggest publicly traded hedge fund manager, said clients withdrew a net $1 billion in the first quarter and costs such as employee bonuses ate up more cash than analysts expected.
The shares slid as much as 8 percent. Clients redeemed $4.1 billion from Man’s investment funds, which was partly offset by $3.1 billion of sales, the London-based company said today.
