Man Group Preps US Fund

Chidem Kurdas

As part of a long-term effort to expand its share of  the American high-net-worth and institutional investor market, London-listed Man Group is preparing to launch a long/short equity fund of funds. The other products the company offers in the US are mostly multi-strategy and not dedicated to stock investing. 

The new fund’s manager is Man Investments, the successor of Glenwood Capital, a Chicago-based fund of funds acquired by Man Group in 2000.

US investors have not been a big part of Man’s clientele but the company has said that its capital inflow prospects are strong across geographies, especially from institutions that have moved beyond conventional diversified funds of funds. The long/short equity fund may appeal to such institutions. 

“We believe that these institutions represent an important market segment,” according to the latest financial report.

Man’s assets under management are down substantially from two years ago. In the past 12 months as of April 1, assets declined 16% to $39.4 billion. Man is acquiring GLG, which will add $24 billion to assets.

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