Hedge Fund News From HedgeCo.Net

Man Group Has $1B Outflows on AHL Losses

BusinessWeek – Man Group Plc (EMG), the world’s biggest publicly traded hedge fund manager, said clients withdrew a net $1 billion in the first quarter and costs such as employee bonuses ate up more cash than analysts expected.

The shares slid as much as 8 percent. Clients redeemed $4.1 billion from Man’s investment funds, which was partly offset by $3.1 billion of sales, the London-based company said today.

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