Man down

30 April 2012 By Neil Unmack Follow @unmack1

The hedge fund manager’s share price dive has unsettled investors and prompted takeover speculation. Man’s recovery depends on turning around its flagship AHL fund. But that shouldn’t prevent chief executive Peter Clarke from dealing with some of its other shortcomings.

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Man Group shares fell 3.3 percent to 103.5 pence by 1445 GMT on April 30. The shares have lost roughly 20 percent of their value since the start of the year, and more than 60 percent since the start of 2011.
AHL, Man’s largest fund which follows trends in futures markets, is about 12 percent below its high-water mark, the point at which it can charge performance fees. AHL’s assets under management through high-margin guaranteed products shrank to $10 billion at the end of 2011, from $15 billion in March last year as the fund was forced to reduce investments in the face of volatile markets.

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