eFinancial Careers – This hasn’t really to plan; Man Group bought GLG Partners last year to diversify its revenue streams and reduce its reliance on its flagship AHL fund, but it’s the new acquisition that’s leaking assets. There’s reason to believe that job cuts could be coming.
Assets at the world’s largest hedge fund fell by 8%, to $65bn, between the end of June and 26th September. GLG’s long-only strategies posted a negative performance of $1.1bn in Q2, and outflows from its fund styles contributed to a $2.6bn decline during the quarter.
