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Man Group Assets Reach New High Point: $42 Billion

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NEW YORK (–The world’s largest freestanding hedge fund business, Man Group plc, has raised US$2.2 billion in the three months to Dec. 31, 2004, and estimates assets under management at US$42 billion, up from US$38.4 billion as of Sept. 30, 2004.

According to a statement, redemptions were US$1.3 billion during this period–at the low end of the annualized long-term range. Redemptions by private investors were US$0.7 billion.

Man’s share price has been buffeted by fear that asset growth is stalling and returns on investments are too low. The latest number had a reassuring effect today, with Man up 30 pence, to 1402 pence (US$26.35), on the London Stock Exchange as of press time.

That is higher than most of its trading range in September, but lower than it had been in early 2004 .

The firm launched 10 new private investor fund products during the quarter. Private investor money accounts for US$24.5 billion of total assets, up from $22.4 billion in September, while institutional money is at US$17.5 billion, up from US$16 billion.

Contact Bob Keane with questions or comments at: [email protected].