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Hedge Fund Giant Man Group AUM Down 10% H1 2012

New York (HedgeCo.Net) – One of the worlds biggest hedge funds, Man Group PLC., reported losses of %10 for the first half of 2012 (H1), lowering funds under management $52.7 billion. Gross revenues were reported at $666 million.

Other H1 key points include:

• Adjusted PBT of $121 million (H1 2011: $231 million)
• Statutory loss before tax of $164 million (H1 2011: profit of $70 million)
• $233 million impairment of Multi-Manager ($142 million) and GLG ($91 million) goodwill
• Interim dividend of 9.5 cents per share, as announced in May
• Proposal to create new holding company to access distributable reserves

Going into H2, Man reports that markets remain uncertain, liquidity is thin and policy is centre stage, Man says that skillful and disciplined use of risk budget is essential.

In other news, GLG, the FSA authorised and regulated investment manager division of Man Group, has appointed former Pimco Director Sudi Mariappa to lead its absolute return fixed income offering.

Alex Akesson
Editor for HedgeCo.net
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