Man Group loses $1 billion in negative fund performance


Challenging market conditions have resulted in Man Group reporting more than $1 billion declining negative investment movement, according to an interim management statement for the quarter ending 30 June 2011.

Funds under management increased from $69.1 billion in March 2011 to $71 billion due to what the firm said were record sales in the quarter.

Man, one of the world’s largest alternative asset managers, has eight absolute return UCITS funds, including AHL Trend and Diversity as well as a range of funds from GLG – which was acquired by the group in 2010.

More than half of these funds