Man assets dip again; GLG founder Gottesman goes non-exec

Thu Jan 19, 2012

Man Group, the London-listed alternative investment group that includes GLG Partners, has issued a trading statement for the nine months to the end of December showing a further drop in assets under management on the back of weak performance by its core AHL systematic trading engine in 2011 and investor outflows across its range of products.

Separately, the publicly-quoted firm also announced that Noam Gottesman – the original co-founder of GLG along with Pierre Lagrange and Jonathan Green in the early 1990s and the firm’s co-CEO in recent years – was stepping back from day-to-day executive responsibilities to become non-executive chairman of GLG’s US operation.

Man’s funds under management fell to $58.4 billion at the end of the calendar year – down from $64.5 billion at the end of September 2011 and $69.1 billion at the end of March 2011 – with sales in the third quarter of $3.1 billion...

ISSN: 2151-1845 / CDC10004H

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