Hedge Funds

Man Group's earnings jump despite softer performance

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The Man Group Plc this week reported a 10% gain in profits for the 12-month period ending in March, suggesting hedge fund performance woes of late might not be as abysmal as some have feared.

Man's record rise in net income of $608 million, combined with a gain in assets of $43 billion, allayed fears that the global hedge fund juggernaut might be screeching to a halt and that investors might start fleeing for the exits as the broader industry's fund performance has slumped.

Still, some 11 of Man's largest hedge funds lost an average of close to 1% during