{"id":24955,"date":"2011-09-28T07:48:01","date_gmt":"2011-09-28T11:48:01","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=24955"},"modified":"2011-09-28T07:53:40","modified_gmt":"2011-09-28T11:53:40","slug":"hedge-fund-clients-redeem-2-6-billion-from-man","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2011\/hedge-fund-clients-redeem-2-6-billion-from-man.html","title":{"rendered":"Hedge Fund Clients Redeem $2.6 Billion From Man"},"content":{"rendered":"

\"\"<\/a>New York (HedgeCo.net) – Hedge fund giant Man Group said its assets fell by $6 billion as\u00a0shares dropped nearly 22% yesterday after investors pulled $2.6 billion\u00a0from its funds.\u00a0\u00a0Man said it expects headline pre-tax profits to have fallen from $227 million to $185 million in the six months which end this Friday.<\/p>\n

“The extreme volatility of markets in recent months has created challenging performance\u00a0conditions across asset classes.”\u00a0Peter Clarke, Chief Executive of Man, said. “Hedge fund styles\u00a0saw mixed performance across the period as concerns around global growth prospects and\u00a0sovereign debt levels, especially in the Euro zone, precipitated violent swings in equity, currency\u00a0and bond markets.”<\/p>\n

“In terms of financial performance, although assets under management reduced in the second\u00a0quarter, primarily as a result of market movements in long only and the impact of foreign exchange\u00a0translation from the weakening Euro, management fees for the half have been broadly stable on a\u00a0like-for-like basis.”\u00a0Clarke said.<\/p>\n

Man lost $1.5 billion through negative hedge fund performance\u00a0and $1.9 billion when the euro dropped against the dollar.<\/p>\n

Alex Akesson
Editor for HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a> is a premier hedge fund database<\/a> and community for qualified and accredited investors only. Membership in HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.net) – Hedge fund giant Man Group said its assets fell by $6 billion as\u00a0shares dropped nearly 22% yesterday after investors pulled $2.6 billion\u00a0from its funds.\u00a0\u00a0Man said it expects headline pre-tax profits to have fallen from $227 million […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,15],"tags":[],"class_list":["post-24955","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","category-private-equity"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=24955"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24955\/revisions"}],"predecessor-version":[{"id":24959,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24955\/revisions\/24959"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=24955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=24955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=24955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}