CNBC – Shares in Man Group, the world’s biggest listed hedge fund firm, slid on Wednesday after it said funds under management fell 21 percent and that it would sue over its exposure to the Madoff scandal.

Man said its assets totalled $53.3 billion at the end of last year, below Citi analysts’ expectations and down from $67.6 billion at the end of September. Part of the drop was due to net redemptions, which reached $3.2 billion in the three months to December.

Man Group’s shares were down 5 percent at 214 pence at 1014 GMT, up from a trough of 200 pence earlier. The blue chip FTSE 100 Index was 1.6 percent lower

Read Complete Article

Tags: assets, blue chip, cnbc, gmt, man-group, pence, redemptions, scandal, three months, trough

Boston Globe- Carl Icahn has hit the roughest patch of his hedge fund career.

His $7.9 billion in hedge funds fell 7 percent between October and April, the biggest peak-to-trough loss since the funds opened in November 2004, according to investors. That compares with an average annual return on his investments of 53 percent from 1996 to mid-2004.

Icahn has lost money on cellular-phone maker Motorola Inc., his biggest investment. The 72-year-old billionaire also failed to persuade executives at Yahoo Inc. and Biogen Idec Inc. to take his advice for boosting their stock.

While falling equity markets and the slowing economy are beyond Icahn’s command, the setbacks at Yahoo and Biogen Idec don’t bode well for his future as an activist shareholder, said Brett Barth, a partner at New York-based BBR Partners, which has invested $1 billion in hedge funds.

Read Complete Article

Tags: 100-million, asset-management, biogen-idec, biogen-idec-inc, cellular-phone, conglomerate, globe-russia, initial-portfolio, limited-liability, mark-cuban, motorola-inc, pariah, proceeds, risk-assessment, sharkwatch, tenured-faculty, trough