LONDON (HedgeWorld.com)–Man Group plc* has integrated RMF Investment Group, Pfaffikon, Switzerland, into its risk management and distribution systems, according to the company’s recently released annual report.
Man acquired the US$8.7 billion hedge fund of funds manager in May 2002 .
“The acquired business has both met our financial expectations and, perhaps more importantly, acted as a catalyst to further develop our distinctive business model which integrates investment management skills, product structuring expertise and proven distribution capabilities in a scalable format,” wrote Chairman Harvey McGrath in the report.
Man’s asset management division conducted a risk review exercise in the past year to facilitate the integration process. This included coordination of risk management standards across the business and a resource review to ensure that risk, reporting and compliance activities will accommodate continued growth.
RMF was incorporated into a central organizational and reporting structure, while remaining an autonomous manager. What is more, it now fits into a unified product development and distribution system with the other Man managers, namely the AHL managed futures program, Man-Glenwood funds of funds, some single-manager funds and other investment strategies such as private equity, according to the report.
“This structure allows the investment managers to maintain integrity while still providing an integrated product and sales approach,” wrote Chief Executive Stanley Fink. He points out that the new acquisition diversified Man Group’s customer base by bringing in European institutional clients and this “has given the Group critical mass in the institutional market.”
*Man Group plc is a minority investor in HedgeWorld.