Boston Globe-Man Group PLC, the world’s largest hedge-fund manager, plans to list a hedge fund on the New York Stock Exchange in its latest push to raise money from U.S. investors.<\/p>\n
The move highlights a broader trend of hedge-fund managers boosting their assets through exchange-traded funds that can be bought by both institutional and retail investors.<\/p>\n
Shares in Man Dual Absolute Return Fund, a closed-end company, will be offered at $20 apiece, for minimum orders of 100 shares. Plans for the initial public offering were filed with the U.S. Securities and Exchange Commission Friday.<\/p>\n
The company didn’t say how much money it is looking to raise. Similar funds listed in Europe have raised as much as $2.2 billion in IPOs, mainly from institutional investors who want access to hedge-fund strategies through a liquid stock.<\/p>\n
Man Dual Absolute Return Fund will invest in two ways: a long\/short equity strategy managed by Tykhe Capital LLC, a New York-based hedge fund manager using quantitative models; and AHL Core, a managed futures trading program operated by Man.<\/p>\n