(Bloomberg) — Man Group Plc, the world’s largest hedge fund company, gained $1 billion of net new investments in the first half and said fees linked to fund returns jumped.
The company also raised 125 million pounds ($214 million) in a share sale to bolster capital after agreeing to buy assets from bankrupt U.S. futures broker Refco Inc. Performance fees rose to $166 million in the six months ended Sept. 30, from $31 million in the year-earlier period, Man Group said today in a statement.
Man Group, based in London, is bucking a trend of declining inflows and returns in the $1.1 trillion hedge fund industry. European hedge fund assets expanded at half the pace in the first half of 2005 as in the previous six months, according to a Eurohedge magazine survey from September.
