Man Group year profit surges 60%

Reuters- Man Group, the world’s biggest listed hedge fund company, posted a 60 percent rise in annual profit on Thursday, riding turbulent financial markets to show strong growth in funds under management which fuelled record management fees.

Chief Executive Peter Clarke told Reuters a key part of the firm’s strong results was the performance of its AHL futures business, which, with no exposure to equities, proved particularly successful during the intense volatility in stock markets over the past nine months.

"Diversification and low correlation is a key to surviving these markets," Clarke said.

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